Renault and Nissan renew their wishes

The New Agreement of the Alliance between Renault Group and Nissan comes into effect today after obtaining the required regulatory approvals.

After securing the support of the Chinese company Geely for the development of its electric platforms, Renault Group has carefully defined the framework of its alliance with Japan’s Nissan to prepare for the future of both brands. Renault and Nissan now hold a 15% cross-shareholding, with a commitment to maintain these stakes, as well as a cap on their shareholdings. The voting rights of Renault Group and Nissan are limited to 15% of the exercisable voting rights, with each free to exercise its voting rights within this limit.

Renault transferred 28.4% of Nissan shares (out of a total of 43.4%) into a French trust, where voting rights are exercised neutrally, subject to certain exceptions. Renault Group will continue to fully benefit from the economic rights (dividends and sale proceeds of the shares) associated with the shares held by the trust until their sale. Starting today, Renault Group may instruct the trustee to sell the Nissan shares held by the trust, though it is not obliged to do so within any specific deadline. Renault Group has full discretion to sell the Nissan shares held by the trust, within an organized and coordinated process with Nissan, which also has a right of first offer in favor of Nissan or a designated third party.

The transfer of Nissan shares by Renault Group into the trust will not result in any impairment in Renault Group’s financial statements.

This new chapter of the Alliance will build on the solid foundations of a long-standing partnership. It will maximize value creation for each member by establishing a new, fair, and effective governance framework. The Alliance will continue its efforts to identify key projects in all markets that offer mutually beneficial, large-scale, and tangible results for its members.

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