Nissan, Renault formally agree to make cross-shareholdings equal

Nissan Motor Co. and Renault SA said Monday they have formally agreed to make their mutual cross-shareholdings equal at 15 percent, in a deal that will radically change the decades-old capital alliance that created one of the world's biggest automaker groups.Under the agreement, the French company will reduce its 43.4 percent stake in the Japanese automaker while Nissan will maintain its current stake in its alliance partner.While Renault will allow Nissan more autonomy, the Japanese company will, in turn, hold an up to 15 percent stake in Ampere, a new electric vehicle company to be set up…READ FULL ARTICLE