Renault Proposes A Merger With Nissan

AutoNews reports that Renault is offering a mutually beneficial proposal to Nissan. The plan aims to create a joint holding company that would give both automakers equal footing as Renault seeks further integration with Nissan. Under the agreement, both auto manufacturers would offer up a nearly equal number of directors to the new company. Ordinary shares in both Nissan and Renault would be transferred on a balanced basis. This plan would dilute the stake held by the French government in Renault to around 7 percent to 8 percent, from its current 15 percent.

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