Nissan’s independent directors have agreed to proceed with a deal to rebalance the carmaker’s two-decade alliance with Renault, a person familiar with the situation said.
Final negotiations are under way for Renault to reduce its stake in the carmaker, and for Nissan to invest in Renault’s planned electric-vehicle carve-out, code-named Ampere, with the goal of wrapping up talks this month before making a formal announcement, said the person, who asked not to be identified because the details aren’t yet public. The Yomiuri Shimbun reported on the timing earlier on Tuesday.
Renault is in the middle of a complex split of its business into five different units while negotiating with Nissan ways to rebalance an alliance with lopsided capital ties that has become a source of friction over the years. Renault sees potential for a roughly €10 billion (¥1.4 trillion) valuation for Ampere and is planning an initial public offering for the second part of the year, depending on market conditions.