France will cut its stake in carmaker Renault to 38 per cent initially and 25 per cent longer-term as part of a deal with Renault’s Japanese partner Nissan Motor, the French Finance Ministry said this morning.
In a statement, the ministry said Renault would increase its stake in Nissan from 36.8 per cent to 44.4 per cent. Nissan will take a 15 per cent stake in Renault under the deal.
Both companies will do capital increases.
