Renault and Nissan may merge to take on Volkswagen, Toyota

30 March, 2018, 00:37 | Author: Martin Tyler
  • Nissan and Renault company logos outside a Renault SA automobile dealership in Albi France on Jan. 15 2016

Renault owns 43pc of Nissan, while the Japanese company owns 15pc of Renault.

Shares in French automaker Renault shifted up several gears yesterday, reaching the highest level in a decade, following a report that it was in talks with its alliance partner Nissan about a merger.

Shares in Renault rose by more than 8% in early trading on the report in the French capital. Nissan shares are down almost 2% over the past year, giving the company a valuation of 4.6 trillion yen ($43 billion).

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"The concern has always primarily been the French government, and somewhat Japan, because both France and Japan like to keep their national champions", the analyst, Janet Lewis, was quoted as saying.

A Renault-Nissan spokesman declined to comment on what it regarded as "rumours and speculation", reported the BBC. Both the automotive giants are eager to enter into a contract in which the stakeholders of Renault will be provided with the share of the newly merged firm. Both companies are managed by Carlos Ghosn.

The companies are seeking to double synergies to 10 billion euros ($12.2 billion) by 2022 from 2016. Reliable sources cite that Mitsubishi Corporation may also participate in the alliance by joining its shared-parts unit.

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Renault is Europe's third-largest auto maker after Volkswagen and PSA, having sold 1.6m cars a year ago.

Ghosn reiterated last month that Japan wouldn't agree to a tighter structure if France remains a shareholder. "Nissan and Renault really need to move past the engagement and get married in order to force the kind of changes they need to make to take on Volkswagen and Toyota". "I just consider that I have the shareholders that I have and I try to satisfy them in the best way possible and as much as possible make sure that they understand our strategy and appreciate our results".

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