TOKYO (Reuters) – Nissan Motor Co on Thursday gave some details of its two-decade-old alliance agreement with top shareholder Renault SA for the first time, making clear the French automaker is not allowed to increase its stake beyond 44% without permission.
In an annual securities report filed in Tokyo, Nissan said Renault was not allowed to increase its stake in the Japanese automaker beyond 44% without Nissan’s permission, with the exception of cases such as other entity bidding for Nissan.
Renault owns around 43% of Nissan while the Japanese carmaker owns 15% of its top shareholder, but without voting rights.
(Reporting by Satoshi Sugiyama; Editing by David Dolan)
