Renault said to be seeking a merger with Nissan
Nissan CEO Hiroto Saikawa rejected a request earlier in April by Renault chair Jean-Dominique Senard to reconsider a merger, people familiar with the matter have said
Paris/London — Barely three months into his tenure, Renault chair Jean-Dominique Senard plans to propose merging the French car maker with alliance partner Nissan under a holding-company framework, according to people familiar with the matter. Each company would own about a 50% stake in the holding company and have equal board representation, one of the people said, asking not to be named discussing confidential deliberations. The entity would be headquartered outside France or Japan, possibly in Singapore, the person said. “What we always said, and we still say the exact same thing, is that what we want is the alliance to be irreversible,” Renault CFO Clotilde Delbos said Friday on the company’s first quarter conference call when asked about its plans. “This is what we are pursuing collectively with Nissan.” Nissan CEO Hiroto Saikawa rejected a request earlier in April by Senard to reconsider a merger, people familiar with the matter have said. Representatives for Nissan and Renaul...
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