FILE PHOTO-The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Le Coteau, France, July 13, 2023.
REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsTOKYO, Nov 8 (Reuters) - France's Renault (RENA.PA) has cut its stake in Nissan (7201.T) to 15% from about 43% by placing 28.4% of the Japanese automaker in a French trust, the companies said in an alliance statement, putting them on equal footing.
The new agreement for the restructured alliance between Renault, Nissan and their junior partner Mitsubishi Motors (7211.T) came into effect on Wednesday, the car makers said in the statement.
The companies had already said in January that Renault would put roughly 28% of Nissan in a French trust to make them more equal partners.
($1 = 0.9359 euros)Reporting by Daniel Leussink; Editing by Christian Schmollinger and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
Persons:
Gonzalo Fuentes, France's, Ampere, Daniel Leussink, Christian Schmollinger, Gerry Doyle
Organizations:
Renault, Nissan, REUTERS, Rights, France's Renault, Mitsubishi Motors, Mitsubishi, Thomson
Locations:
Le Coteau, France, London