Nis­san- Re­nault go on stronger

The Witness - Wheels - - MOTORING - — WR.

AF­TER the French gov­ern­ment called for Re­nault to ex­tri­cate it­self from Nis­san, the boards of direc­tors of Re­nault and Nis­san in­stead an­nounced they will strengthen their part­ner­ship.

Car­los Ghosn, chair and CEO of the Re­nault- Nis­san Al­liance said af­ter months of dis­cus­sions, a new agree­ment has been reached “that builds on our her­itage and strong foun­da­tions to achieve fur­ther sus­tain- able growth and suc­cess of the two part­ners”. The com­pa­nies, which have been strate­gic part­ners since 1999, said it sold 8,5 mil­lion ve­hi­cles in nearly 200 coun­tries last year.

The Al­liance also has strate­gic col­lab­o­ra­tions with Ger­many’s Daim­ler, Ja­pan’s Mit­subishi, China’s Dongfeng, In­dia’s Ashok Ley­land and Rus­sia’s Lada.

The new agree­ment rests on three pil­lars:

• The French gov­ern­ment re­tains dou­ble vot­ing rights within Re­nault, capped at 20% in case of an un­usu­ally high quo­rum at the share­hold­ers’ gen­eral meet­ing;

• No en­fran­chise­ment of Nis­san shares in Re­nault;

• A con­tract be­tween Re­nault and Nis­san pro­vid­ing for non- in­ter­fer­ence in Nis­san’s gov­er­nance by Re­nault.

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