Renault-Nissan-Daimler cooperation sealed and explained!
8 April 2010 8:49 am / 14 comments
Details of Renault-Nissan’s partnership with Daimler AG have been revealed. The tie-up involves a symbolic stake exchange of 3.1%, which is basically a series of stake exchanges. Daimler will get 3.1% of Renault’s newly issued shares, Daimler will get 3.1% of Nissan shares that Renault current holds, and Renault will get 3.1% of Daimler shares. Renault has agreed to exchange 1.55% of Daimler shares with Nissan for 2% of Nissan shares. Renault and Nissan will each hold 1.55% of Daimler treasury shares.
The press release issued by the two companies also details exactly what the companies will work together on: