Renault and Nissan Motor’s boards are set to greenlight a landmark deal to reshape their troubled two-decade alliance just hours before an official event unveiling more details of the plan, according to people familiar with the situation.
Renault directors are gathering Sunday followed by Nissan’s board early on Monday, said the people, who asked not to be identified discussing information that hasn’t been made public. Both boards are expected to agree to the proposals, according to the people.
Renault and Nissan this week outlined their in-principle agreement on a deal to rebalance cross-capital ties and cooperation on future projects with a goal of resetting their alliance that also includes junior partner Mitsubishi Motors. The votes will come shortly before executives from the three companies hold a media conference in London on Monday to share more about their plans, with final details on timing and venue being ironed out, the people said.