When the three leaders of the world's top car-making alliance gather in Jap...
TOKYO - When the three leaders of the world’s top car-making alliance gather in Japan on Tuesday, they will be looking to secure a partnership that was built by former Nissan boss Carlos Ghosn and then possibly imperiled by his ouster.
Released on $9 million bail last week after spending more than 100 days in a Tokyo detention center, Ghosn faces charges of under-reporting his salary at Nissan by about $82 million over nearly a decade - charges he has called “meritless”. Some at Nissan had been unhappy with Ghosn’s push for a deeper tie-up, which was seen as possibly including a full merger. Smaller Renault owns 43 percent of Nissan after rescuing the Japanese company from near-bankruptcy in 1999. Nissan holds a 15 percent, non-voting stake in Renault, whose top shareholder is the French government.
“The proposed arrangement will have no impact on the existence of the and the cross-shareholding structure, which will both remain in place,” Renault said.
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