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Ivan Radic
As part of the alliance's reformation, the companies have agreed to equalize their holdings in each other's share capitals, giving 15% to each. Renault has lowered its investment in the Japanese company from 43% to 15% in recent months.
This was accomplished by transferring 28.4% of Nissan shares controlled by Renault to a French trust fund. The withdrew shares do not provide their owners the opportunity to vote on most topics concerning Nissan's management, but they will continue to benefit the owners financially.
The deal gives Renault the ability to sell these shares to Nissan or, if the Japanese business agrees, to a third party.
The parties stated that they had secured all regulatory clearances needed to complete the procedure for forming the new alliance. The deal reached by the corporations in February entered into force on November 8th.
source: reuters.com
This was accomplished by transferring 28.4% of Nissan shares controlled by Renault to a French trust fund. The withdrew shares do not provide their owners the opportunity to vote on most topics concerning Nissan's management, but they will continue to benefit the owners financially.
The deal gives Renault the ability to sell these shares to Nissan or, if the Japanese business agrees, to a third party.
The parties stated that they had secured all regulatory clearances needed to complete the procedure for forming the new alliance. The deal reached by the corporations in February entered into force on November 8th.
source: reuters.com
