Nissan Motor Co. said Thursday it will acquire 13.5 percent of its alliance partner Renault SA through subsidiary Nissan Finance Co.

The transaction, which was agreed to by Nissan and Renault in October, is part of the process of strengthening their strategic alliance, the two automakers said.

The agreement gives Nissan the right to acquire 15 percent of Renault and Renault the right to raise its share in Nissan to 44.4 percent.