Renault Agrees To Cut Stake In Nissan To 15%

French automaker Renault and its alliance partner Nissan of Japan have reached a deal that will put the two companies on an even footing in their capital tie-up, Nikkei Asia and Agence France-Presse (AFP) reported.

Photo Insert: Renault agreed to cut its stake in Nissan to 15% while Nissan approved an investment in Renault's new electric vehicle company Ampere.

Japanese automaker Nissan Motor and its French partner Renault have reached an agreement to reduce the latter's stake in Nissan, Jiji Press also reported.

Renault and Nissan of Japan agreed to put the two companies on an even footing in their capital tie-up.

The two companies will issue a statement saying they have reached a de facto agreement in the afternoon. The two companies will discuss the draft agreement at meetings of their respective boards, which have yet to be set.

Renault agreed to cut its stake in Nissan to 15% while Nissan approved an investment in Renault's new electric vehicle company Ampere.

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