Under the agreement, Renault will reduce its ownership stake in Nissan from 43% to just 15%. In return, Nissan will invest in Renault’s new electric vehicle project.
On December 12, Renault announced that it will sell back 5% of its shares to Nissan, equivalent to 211 million shares. At the close of trading on December 12, Nissan shares were priced at 568.5 yen ($3.91) on the Tokyo Stock Exchange. Thus, the number of shares sold by Renault is valued at approximately 765 million euros (about 20 trillion VND).
Renault said that its ownership stake in Nissan will be reduced from over 43% to 15%, the same as the stake that the Japanese automaker owns in Renault. This is part of the “rebalancing” plan signed by the two companies last November.
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In exchange for the reduction in ownership stake, Renault will receive a $663 million investment from Nissan into Ampere – Renault’s electric vehicle unit. Additionally, the two companies will collaborate on “high-value creation operation projects” in Latin America, India, and Europe. Renault CEO Luca de Meo has planned to introduce Ampere between March and May next year. The French automaker had previously expected this to happen this year, but the plan has been postponed to 2024.
It is unclear when the remaining shares will be sold, but Bernstein analysts believe that Nissan’s sale of a 28% stake could help the company increase its cash balance by $4.5 billion at current market prices.
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Established in 1999, Renault-Nissan was once regarded as a benchmark for partnership models in the automotive industry, later adding Mitsubishi Motors in 2016. In 2022, the Renault-Nissan-Mitsubishi alliance sold a total of 6.15 million vehicles, ranking fourth among the world’s largest automakers, behind Toyota, VW, and Hyundai.
Thái Son (Tuoitrethudo)
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