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NEW YORK – Nissan and Renault are planning to change their partnership in order to restart negotiations on the merger with the American manufacturer Fiat Chrysler, announced Friday the US press.
Negotiations for a rapprochement between Renault and Fiat Chrysler (FCA) were unsuccessful in June, the president of Renault accusing the French government of blocking the vote on this agreement that would have upset the automotive industry and created the third global car manufacturer.
The French government denied the accusations, while Nissan described its relationship with Renault as inegalitarian and said the French automaker had left it in the dark about its merger plans with FCA.
Citing e-mails and corporate sources, the Wall Street Journal announced that Nissan is now asking Renault to reduce its stake in the Japanese automaker by 43 percent.
Nissan controls 15% and has no voting rights in Renault, which also belongs to the French government.
A rebalanced relationship would help ease some of the tensions between the two automakers and dispel Nissan's reluctance to support the merger with FCA, the paper said.
A draft agreement on the restructuring of the relationship could begin in September, the newspaper reported, citing a July email.
Any deal would require the green light from the French state, which holds 15% of Renault's capital.
This approval is not granted: the French president, Emmanuel Macron, declared at the end of June that he would not envisage any change in the structure of the two companies.
The same month, Nissan shareholders approved a redesign aimed at strengthening the builder's governance after the arrest of former boss Carlos Ghosn, ousted, who had been arrested for several counts of financial misconduct .
Nissan declined to comment. Renault has not responded to a request for comment.
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