Renault, Nissan Agree For Proposed Collaboration

Renault Group (RNSDY.PK,RNSDF.PK,RNT.L), a French automaker, said on Monday that it has agreed with Japanese automotive firm Nissan Motor Co., Ltd (NSANF.PK,NSANY.PK), for a new collaboration, to boost their ties.

Nissan will invest in Ampere, the EV & Software pure player of Renault, to become a strategic shareholder.

The both parties aim to collaborate on key projects in Latin America, India, and Europe focusing on their markets, vehicles, and technologies.

The partnership could allow Renault to transfer 28.4 percent of Nissan shares into a French trust, where the voting rights would be neutralized for most of the decisions, except the economic rights.

"As part of the efforts for a balanced governance and cross-shareholding to foster accelerated operational efficiencies, the French firm and Nissan would retain a 15 percent cross-shareholding, with a lock-up obligation, as well as a standstill obligation. Both parties would both be able to freely exercise the voting rights attached to their 15 percent direct shareholding, with a 15 percent cap," Renault said in a statement.

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