The negotiations between Renault and Nissan are getting difficult. The two manufacturers began several weeks ago to review their Alliance. Renault is willing to reduce its 43% stake in Nissan in exchange for the entry of its partner in its new subsidiary dedicated to electric vehicles, Ampère. But in recent days, the discussions have been winding down.
What about Google?
The Japanese demand specific guarantees on the use of data, software and source codes that they agree to share with Renault. Nissan wants to protect its intellectual property on electric vehicle technologies.
The group fears that Renault will share them with a third party partner, first of all Google, an ally of the French manufacturer for four years. You also want to know which other competing manufacturers will have access to this strategic data.
In the French field, things are calming down: “there is no blockade but adjustments to be made, assures a source close to Renault. The negotiations are nearing their end and everyone wants to conclude.” But the agreement between both manufacturers will not be ready for next week.
Balance of power in favor of Renault
On Tuesday, November 8, Renault will present its “Ampère” project, the subsidiary dedicated to electricity that it will create in order to be able to go public next year. There is also little chance that this deal will be finalized by next week when the three Alliance manufacturers Renault, Nissan and Mitsubishi meet on November 15.
The final agreement must be ratified by the boards of directors of the two manufacturers. Renault judges the balance of power in its favor. “If Nissan does not participate in the Ampère project, Renault will not reduce its participation in its capital,” says a source close to Losange. However, for Nissan the main problem is that Renault lowers its participation from 43% to 15%.
Except that today, that “block” of 28% is worth 4,000 million euros on the stock market, twice as much as in Renault’s accounts, which excludes selling it at a loss. Therefore, these shares will not be transferred immediately but deposited in an ad hoc company, a trust or a fiduciary, as explained The world. A structure that will allow Renault to sell its Nissan shares when the stock market rises and depending on the financing needs of its “Ampère” electrical branch.
Source: BFM TV
