(AOF) – The car manufacturer Renault announced on Monday that it had reached an agreement with its Japanese counterpart Nissan. “The ambition is to strengthen the links of the Alliance and to maximize the creation of value for all stakeholders”, specifies a press release. Through this agreement, the two entities would retain a cross-shareholding of 15%, with a retention obligation, as well as an obligation to cap their holdings.
They would both be able to freely exercise the voting rights attached to their direct 15% stake, with a ceiling of 15%.
Renault would transfer 28.4% of Nissan shares to a French trust, where voting rights would be “neutralized” for most decisions, but where economic rights (dividends and proceeds from the sale of shares) would still benefit Renault entirely until on the sale of these shares.
Renault would instruct the trustee to sell these Nissan shares if the economic conditions are reasonable for Renault Group, within the framework of an organized and orderly process, but it would have no obligation to sell its shares within a specific predetermined period.
In addition, Nissan would invest in Ampere, the pure player in electrical and software founded by Renault Group, with the aim of becoming a strategic shareholder.