Rise of the French state in Renault Nissan will review the situation this week
Shanghai – The Board of Directors of the Japanese automaker Nissan will consider this week the issue of the rise of French state in the capital of its French partner Renault, announced Monday the CEO of both companies, Carlos Ghosn.
The Board of Directors of Nissan will meet this week and analyze the situation, said Mr Ghosn, questioned about the controversy at a press conference at the show in Shanghai Automotive (China).
Mr. Ghosn has also refused to comment on the merits of the case.
I will not answer for a simple reason, said Ghosn, speaking in English. Renault’s board met (and) has issued a statement, he recalled.
On Thursday night, the Renault’s board reiterated its opposition to the application within the company’s Florange law, a device for speculators and guarantees of double voting rights to shareholders for more than two years.
A resolution rejecting the application This legislation was introduced to the agenda of the General Meeting of Renault shareholders on 30 April, and will collect more than two-thirds vote for approval.
Now, the French Government , determined to defend the law and rights, acquired additional 4.73% stake in the group to the diamond, increasing its share to 19.7% and its voting rights exercisable at 23.2% likely to make it a blocking minority saw the usual rate of participation in the votes of the general assemblies of Renault.
Nissan holds 15% of Renault and the French company controlling 44% stake in the Japanese automaker. But Nissan does not vote at the general meeting pursuant to regulations on corporate treasury.
The agenda of the meeting to Thursday night’s board of directors, changes Renault composition of the shareholding and its impact on the Alliance with Nissan, had fueled speculation on attack against Mr. Ghosn via a possible amendment of the terms of the alliance in 1999.
One of the possible scenarios of a response would be a revival of Nissan voting rights at Renault, through a decrease of the group’s interest in the diamond Japanese capital in the 40% mark, through a transfer of shares or a capital increase.
In a statement Thursday, the Renault board requested that the balance between the two main Renault shareholders (the French state and Nissan, Ed) be maintained at the next General Assembly or restored after it.
Mr Ghosn in Shanghai salon was his first to reporters since this showdown with the French Government started.
st / ggy / jh
(© AFP / April 20, 2015 9:12) <-
(AFP / 20.04.2015 09: 14) ->
No comments:
Post a Comment