TOKYO: Nissan Motor Co and Renault SA have reached an agreement to lower the French automaker’s stake in the Japanese carmarker to 15% from 43%, the Nikkei business daily reported on Monday.
The two companies are set to release a statement later on Monday, the newspaper said.
Nissan has also agreed to invest in Renault’s new battery-electric unit that is being spun out of the carmaker, the Nikkei said.
Renault, Nissan aim to announce deal on reshaped alliance on Feb 6
Renault has been looking for Nissan to invest in that business, while Nissan wants Renault, its top shareholder, to sell down its stake and put the 23-year-old alliance on more equal footing, Reuters has reported.
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