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French automaker Renault has asked Nissan to convene a general shareholders' meeting to discuss the status of the alliance between brands after the arrest of Carlos Ghosn on Nov. 19 in Tokyo.
The request was made in a letter sent Friday (14) by Thierry Bolloré, Vice President of Renault.
The former president of the companies is accused of financial misconduct and concealment of income. "The indictment of Nissan creates significant risks for Renault and the stability of our industrial alliance," wrote Bolloré. "We believe that the shareholder forum would be the best way to deal with these issues in an open and transparent way."
The Nissan Board of Directors, which meets on Monday (17), is without a chair since the Japanese prosecutors. Ghosn prison. Hiroto Saikawa, the general manager of the company, has still not responded to Bolloré's call to convene a meeting.
The alliance between automakers began in 1999 – at the time, Nissan was on the brink. bankruptcy. Renault has invested 5 billion euros to take control of 36% of Japanese equities.
Carlos Ghosn, who had been at Renault since 1996, was chosen to lead Nissan.
The French brand currently holds 43.4% of the partner's shares. The factories were closed and 21,000 employees laid off. He was hated at first, but the results made him an idol.
With the resumption of operations, the Japanese manufacturer has become larger than Renault. However, it holds only 15% of the French manufacturer, which reduces its power of decision and generates tensions
The initial resistance of the Japanese to the Western command, something which seemed to have been exceeded, is still strong. 19659002]
This is one of the most preoccupying points for the French: with the fall of Ghosn, the ravages again cast doubt on Nissan's interest in maintaining the alliance. the merger between companies – which since 2016 also includes Mitsubishi Motors – would not turn into a merger.
Renault and Nissan share a plant in Brazil, in São José dos Pinhais (PR). The inauguration took place 20 years ago, before the alliance between companies. Today, the unit produces only models of the French brand; cars of Japanese origin are badembled in Resende (RJ).
Argentina also has a common line that produces the Nissan Frontier and will soon bademble the Mercedes X-Clbad and Renault Alaskan models. These are medium sized sensors that share engines and other components.
Partnerships of this type are fundamental for car manufacturers and have developed. The Volkswagen group joins Ford to produce utility vehicles, while Toyota and BMW are jointly developing sports cars, among other recent examples. Companies value each and every ad of this type.
Threats of break-up of the alliance would have an immediate and negative impact on securities transactions. Without the presence of Ghosn on the board and with the Japanese taking over the command of its brands – Mitsubishi is controlled by Nissan – Renault would be the most in default.
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