The media learned about the intention of France to seek a merger of Renault and Nissan

The media learned about the intention of France to seek a merger of Renault and Nissan

January 20, 2019 0 By autotimesnews

The French authorities have notified Tokyo of their intention to seek the merger of automakers Renault and Nissan into a single holding company, as well as the imminent election of a new chairman of the board of directors of the Japanese automaker after the arrest of Carlos Gon, the Nikkei newspaper reported.

According to the newspaper, this week the French delegation came to Japan, which included a representative of the board of directors of Renault, Martin Vial, and the director of the cabinet of the minister of economy, Emmanuelle Moulin. During the visit, issues of merging and electing a new chairman of the board of directors of Nissan were discussed.

When exactly the French side plans to name the new chairman of the board of directors of the Japanese automaker is not reported. It is noted that the current agreement on the Renault-Nissan-Mitsubishi alliance gives Renault the right to appoint the leadership of Nissan.

What problems in Nissan came to light after the resignation of Carlos Gona

Carlos Ghosn has been under arrest since December 19 last year on suspicion of not having declared all of his income. The amount hidden from the declaration of income in the period from 2010 to 2017 is estimated at 8 billion yen (about $ 71 million). Ghosn does not admit guilt. In addition, he was suspected of having covered losses of 1.85 billion yen (about $ 21 million) for the company’s expense as a result of private investment.

The Renault-Nissan-Mitsubishi Alliance was created in 1999; this is a partnership between the French company Renault and the Japanese Nissan and Mitsubishi. Under the current agreement, Renault owns 43% of Nissan, and the Japanese company owns a 15% stake in the French partner.