Renault is preparing to leave more freedom to its partner. The French manufacturer, which currently owns 43% of the capital of Nissan, could reduce its stake in the Japanese car company to 15%, according to press reports.
“Renault could consider reducing its share until it no longer holds, in the long term, only 15% of Nissan”, write Les Echos this Sunday. “An amount that would symbolize a new balance with his Japanese partner who precisely owns 15% of Renault. Asked by AFP, the French manufacturer declined to comment.
Such an agreement would make it possible to warm up relations between the two partners who are members of an Alliance formed with Mitsubishi Motors. At the end of 2018, when the relationship already seemed unbalanced between Renault and Nissan to the advantage of the French group, the fall of the emblematic boss Carlos Ghosn had indeed caused a serious crisis of confidence between the two companies. This agreement could thus allow Nissan to free itself from the influence of Renault, which it has been trying to obtain for a long time.
“The transaction, if agreed, could be announced as early as November,” for its part assured the Wall Street Journal on Friday, citing sources “at the heart of the discussions”. “Logically, Nissan could then enter up to 15% in the new company (designed by Renault) Ampere, the exact valuation of which still needs to be estimated”, specify Les Échos.
The Agefi-Dow Jones agency and the Wall Street Journal also indicate that Renault, which is going through a bad financial patch, plans to hold at least 51% of this future electric vehicle production entity.
4 billion euros
According to the business daily, Renault, in which the French state owns 15% of the capital, could recover “up to 4 billion euros” from the sale of its Nissan shares, which has no voting rights at the manufacturer. French, continues the French business daily.
In order not to brutally destabilize the markets, the two partners “would think about setting up a trust which would organize, over the long term, the decline in Renault’s share, according to predefined levels of values”, assures- does it again.
“Renault had said that it would announce the assembly linked to the spin-offs of its activities during its capital market day expected in the fall. This is finally scheduled for November 8, the day before Nissan’s half-year results, ”said finally Les Échos.