NISSAN MOTOR CO LTD

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Renault limited to 44% stake in Nissan under agreement, filing shows

06/29/2022 | 11:15pm

TOKYO (Reuters) - Nissan Motor Co on Thursday gave some details of its two-decade-old alliance agreement with top shareholder Renault SA for the first time, making clear the French automaker is not allowed to increase its stake beyond 44% without permission.

In an annual securities report filed in Tokyo, Nissan said Renault was not allowed to increase its stake in the Japanese automaker beyond 44% without Nissan's permission, with the exception of cases such as other entity bidding for Nissan.

Renault owns around 43% of Nissan while the Japanese carmaker owns 15% of its top shareholder, but without voting rights.

(Reporting by Satoshi Sugiyama; Editing by David Dolan)

© Reuters 2022
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