Renault and Nissan Are Said to Be Considering a Merger
Renault and Nissan Are Said to Be Considering a Merger
Renault shares surge on Nissan merger talks report
30 March, 2018, 00:35
The French government's 15 percent holding in Renault could prove a stumbling block, the report said, and that no final decision has been made. The companies have been linked for almost two decades by a cross shareholding and by sharing Carlos Ghosn in key leadership positions, but the question of who will succeed Ghosn in a few year time has put the structure of the alliance on the front burner.
The two companies, which have operated an alliance since 1999, would form a new, single, listed company under the plans being discussed, according to the Bloomberg financial news service which cited information from several sources.
Asked about the report, a spokesman for Renault-Nissan said: "We do not comment on rumours and speculation". The shareholders of Nissan will also receive stocks in the combined entity in lieu of their assets. Carlos Ghosn, pictured, who is now chairman of the two manufacturers, would head the new outfit, it was claimed. Renault shares have risen to 8.3 percent, reaching the highest level in more than a decade. Shares of Nissan have been down close to 2% over the past year.
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Both the Japanese and French government would need to approve this deal and might be very opinionated on the company, when it comes to where it is domiciled.
Both the firms are looking forward towards increasing their collaborations to 10 billion euros by 2022 from 2016. In April, Mitsubishi Motors Corp. - in which Nissan is the largest shareholder - will further integrate with the alliance by joining a shared parts-purchasing organization.
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