Renault and Nissan have successfully concluded the framework agreement within the so-called Alliance announced back in February, this year. by the end of 2023. As announced by the partners, however, “the transactions contemplated in these definitive agreements are subject to a limited number of conditions precedent, including regulatory approvals, and completion is expected to occur in the fourth quarter of 2023”.
Renault and Nissan strengthen the Alliance
As part of this cooperation, Nissan has confirmed its intention to become a strategic investor in Ampere, Renault Group’s new EV and software entity in Europe. Accordingly, Nissan has committed to invest in Ampere up to Euro 600 million consistent with being a strategic investor in Ampere and securing a board seat. This investment opportunity aligns with Nissan’s electrification strategy, creating multiple potential benefits and synergies that complement Nissan’s own goals and initiatives in Europe and other potential markets.
As announced on February 6, 2023, Renault Group and Nissan will retain cross-shareholdings of 15% with lock-up and standstill obligations. Renault will transfer 28.4% of its Nissan shares into a French trust. To bel clearer, the agreements focus on extending the Alliance collaboration in the following areas:
- High-value-creation operational projects in India, Latin America and Europe.
- Enhanced strategic agility with new initiatives that partners can join.
- Rebalanced Renault Group-Nissan cross-shareholdings and reinforced Alliance governance.