Nissan and the French government struck a deal Friday to end a dispute over how much influence the state has over the carmaking alliance between the Japanese automaker and Renault, according to Renault.
The French government will cap its voting rights between 17.9 percent and 20 percent in non-strategic shareholder decisions, and will preclude “interference” by the government in Nissan by Renault. Renault, which is partially state-owned, is Nissan’s largest shareholder.
Earlier this year, France passed a law that would have given the government increased voting rights in the alliance, perhaps in an attempt to forge a stronger partnership between the two automakers. (Read More…)