Nissan and Renault equalise shareholdings to iron out voting conflict

Nissan and Renault have equalised their company shareholdings at 15% to iron out a source of conflict in the Japan-France car alliance.

Renault Group will transfer 28.4% of the Nissan shares it owns into a French trust, so its stake will be the same 15% that Nissan has in the French vehicle maker.

Voting rights would be “neutralised” for most decisions, the two companies said.

The move had been anticipated because of leaks to various media outlets.

The Nissan-Renault alliance began in 1999, at a time when the Japanese car maker was in tough financial straits.

The disparity was a cause of friction, especially after Nissan became far more profitable than Renault.