Nissan’s board will vote this week on the increased stake in its partner Renault by the French state, said the CEO of the Renault-Nissan Alliance Carlos Ghosn, April 20, at the auto show in Shanghai.
Nissan administrators, partner and shareholder in the Japanese manufacturer Renault, will be looking this week on the rise in the capital of the tricolor group of the French state. This could upset the delicate balance that exists between the two companies (and France) within the Renault-Nissan alliance. “The board will meet this week and analyze the situation” , said the head of the structure Carlos Ghosn, during a press conference on the occasion of the opening of the auto show Shanghai, China.
Major shareholder of the group with 15.01% stake, France announced April 8 its intention to acquire up to 4.73% temporary additional shares to thereby increase its participation to reach 19.74%. This should allow it to guarantee the rejection at the Renault general meeting to be held on 30 April, a resolution to prevent the acquisition of double voting rights by shareholders holding shares for more than two years (the state now has a blocking minority).
The rise of The Alliance
Following this announcement, Renault has convened a board of extraordinary administration on 16 April. Administrators will have reaffirmed their opposition to the extent provided by law Florange, which aims to limit speculation around the stocks. A resolution preventing the implementation of this law will be voted at Renault April 30 during the general meeting of the group. To be adopted, it will have to collect more than two thirds of the vote.
Find our folder: Renault, Vivendi … The double voting rights of Florange law shake the general meetings
Following this meeting, the Board asked in a statement that the balance between the two main shareholders of Renault, Nissan and the State “is held at the next General Assembly or restored after it” . Another key given this complex equation of balance, too, that must exist between Renault and Nissan within the Alliance. This is the first mission of Carlos Ghosn for fifteen years.
Formed in 1999 following the purchase of Japanese by the French, it was no longer an empty shell, based in the Netherlands. The bonds were primarily financial. Since 2014, the boss gives a new dimension to the Alliance. Four common directors now manage engineering, human resources, facilities and procurement, with line authority on French and Japanese teams.
Lelia of Matharel
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