Renault's stake in Nissan limited to 44.4%

According to foreign media reports, on June 30, Nissan for the first time announcedsome details of a 20-year alliance agreement with its largest shareholderRenault , which revealed thatRenaultcould not unilaterally increase Nissan’s stake to more than 44.4%.

Nissan also said thatRenaultcould not increase its stake in Nissan without Nissan's permission, unless other entities were involved in the acquisition.It is reported that Renault currently holds about 43% of Nissan's shares, while Nissan only holds 15% of Renault's shares and has no voting rights.

This is the first time Nissan has disclosed details of the "restatement of the alliance master agreement," although Renault has disclosed some of it before.The alliance between Nissan and Renault, widely seen in Japan as an unequal alliance, is a source of tension between the two sides.two companies.

The documents also show that Nissan could increase its stake in Renault if a shareholder proposal made by Renault is not supported by Nissan's board.Nissan can also increase its stake if Renault does not support the proposed choice of Nissan board members.

Nissan said it would disclose the alliance agreement by June 30, subject to confidentiality obligations.But previously, a proposal to disclose the alliance agreement was rejected at this week's annual shareholder meeting.

On June 30, Nissan shares fell 2.8% to 533.5 yen, slightly underperforming the Nikkei 225 (-1.3%).