On December 11, the Renault-Nissan Alliance announced an agreement to strengthen the partnership between Renault and Nissan.
The agreement increases the French government’s voting rights in Renault and guarantees that Renault will not interfere with Nissan’s governance.
The three parties Nissan, Renault and the French government agreed to set limits regarding when the French government can exercise its double voting rights in a shareholders’ general meeting. It identifies special cases such as Renault selling off more than half of its assets.
The agreement also set a cap for the French government’s voting rights up to 20% from 17.9% previously.
Renault-Nissan Alliance CEO Carlos Ghosn said, “Today was an important day for the future of the Renault-Nissan Alliance. After months of discussions, I am happy to say that an agreement has been reached that builds on our heritage and strong foundations to achieve further sustainable growth and success of the two partners.”
(Translated by Greg Scott)