Transportation
Renault Finalizing Transfer of 28% Stake in Nissan
- French company sets up trust in view of selling the stake
- Decades-long alliance partners increasingly go separate ways
Renault told employees in September it was moving away from common structures with Nissan in favor of a new, project-by-project approach to working together.
Photographer: Krisztian Bocsi/BloombergRenault SA and Nissan Motor Co. completed a landmark deal to rebalance their 24-year-old alliance, paving the way for a new relationship after years of acrimony between the two partners.
The automakers on Wednesday announced the creation of a French trust to which Renault transferred 28.4% of Nissan shares. The companies first disclosed plans for the trust in January.