It is announced a new chapter for the alliance between Renault Group and Nissan. According to the press release from the Renault Group website the New Alliance Agreement between Renault Group and Nissan entered into force.
The Renault-Nissan-Mitsubishi Alliance was founded in 1999 and it is the world’s leading automotive partnership created to support member-company competitiveness and profitability.
Their partnership began 24 years ago when Renault set up shop in Tokyo and has spanned decades since. This Alliance had a hard moment when the French state became one of Renault’s main shareholders in 2015, which came as a surprise. Also, when Carlos Ghosn, then-head of the alliance was arrested in 2018 in Japan over allegations of false accounting.
According to the old agreement, Renault used to own 43.4% of Nissan, but now both companies now have a cross-shareholding of 15%.
Based on the New Alliance Agreement each of the partners is able to exercise the 15% voting rights attached to its own shareholding. The voting rights of Renault Group and Nissan are capped at 15% of the exercisable voting rights, and both companies are able to freely exercise their voting rights within such limit.
Jean-Dominique Senard, Chairman of the Alliance, said: “We are delighted to announce today the effectiveness of the New Alliance agreement signed on at the end of July 2023. This is a very important step for Renault Group, Nissan and Mitsubishi Motors, and lays the foundations for a new fair, long-standing and effective partnership that will create value for each Alliance member and for all our stakeholders.”
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