Nissan, Renault agree to make mutual cross-shareholding equal

Nissan Motor Co. and Renault SA have agreed to bring their mutual cross-shareholdings equal at 15 percent, the Japanese and French carmakers said Monday, marking a major revamp of the decades-old capital alliance.Calling the agreement "an important milestone" in their partnership, they said in statements that Renault will cut its 43.4-percent stake in Nissan, while the Japanese automaker maintains its shareholding in its partner and will invest in Ampere, a new electric vehicle company to be established by the French carmaker.The agreements, set to be formally decided by the carmakers' resp…READ FULL ARTICLE