The French company Renault, the largest contributor to the Japanese company Nissan Motor, said that ending partnership talks with Honda Motor was the right decision.
The French company – Al -Malika 36% of April – added that the conditions of the deal “including the fact that it did not include any allowance, is unacceptable.”
The pursuit of a premium to give up control of Nissan was a major priority for Renault, and at a meeting held in Japan last month, the company’s representatives expressed concern about how the potential deal between Nissan and Honda was structured, then Bloomberg reported.
While the executive officials in Honda and Nissan described the deal that was later canceled as a merger, the deal would actually equalize the acquisition of Nissan, as Honda would take the initiative to form the new entity and nominate the majority of its managers.
Renault welcomed Nissan’s intention to focus on its transformation now, and intends to continue to support its Japanese partner in joint alliance projects.
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Conversations
The Japanese giant Honda and Nissan – its financially faltering rival – began talks last December with the aim of integration that would lead to the construction of the third largest manufacturer in the world by 2026.
The proposal stipulated that the two groups be integrated into one holding company, with one insertion in the stock market. Details were expected to be announced in February.
Japanese media reports later indicated that Honda is studying the acquisition of Nissan’s shares to convert them into a simple sub -company.
