Renault Turnaround Progress Continues Despite Industry Headwinds

Renault directly and indirectly owns 40.4% of Nissan, while Nissan owns 15% of Renault and 34% of Mitsubishi. Under the new alliance agreement, Renault transfered 28.4% of Nissan shares into a French trust, retaining a direct 15% stake. The trust sells shares under Renault direction but there is no time limit applied. After Renault sold a 5% Nissan stake to Nissan and Nissan subsequently retired the shares, the trust now holds a 24.6% stake while Renault's direct holding is 15.8%. Nissan shares received voting rights with the new agreement. Voting rights of the Renault and Nissan owned cross-shareholdings are capped at 15%. In addition, Renault owns 99.4% of Romanian automaker Dacia, and 80.0% of South Korean Samsung Motors.