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Nissan and Renault made deal, France satisfied

Staff writer |
Nissan Motor made a deal aimed at blocking the French government from exerting influence on it via its top shareholder Renault, saying that its French partner has agreed not to interfere in the Nissan’s governance.

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Nissan and Renault were concerned that the French government may move to control Nissan as it aims to increase its say in Renault’s affairs by boosting its voting rights.

Renault and Nissan held board meetings in Paris and Tokyo to discuss how best to address the situation.

Carlos Ghosn, CEO of both Nissan and Renault, acknowledged in a press release that “an agreement has been reached” based on a contract between the two companies “providing for non-interference in Nissan’s governance by Renault.”

Nissan said it can counter the French government by increasing its stake in Renault if it faces unfair interference from the government via the French partner.

In a joint statement, Finance Minister Michel Sapin and Economy and Industry Minister Emmanuel Macron welcomed the “positive conclusion” reached by the boards of the two companies.

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