April - 1999
The French
automaker Renault took a 36.8%
(controlling interest)
equity stake in Nissan Motor Co. and a 22.5% stake in Nissan Diesel. Carlos Ghosn, previously
Executive Vice President of Renault, was appointed Chief
Operating Officer of Nissan Motor. The French government holds
44% equity stake
in Renault.
March - 2002
The French
automaker Renault exercised the warrants for 539.75 million shares of Nissan
Motor that it had been holding since the 1999 agreement. The exercise
was executed at the planned share price of JPY400, for a total amount 215.9 billion yen, taking the French
automaker's controlling interest stake in Nissan
Motor from 36.8% to 44.4%.
May - 2002
Nissan Motor finalized its acquisition of a holding in the French
automaker Renault, taking its stake to 15% - without voting
rights.
July - 2003
In a gradual
withdrawal of the French government's holdings in Renault,
comes the latest
step. The French
government sold
8.5% of the
automaker Renault
and would sell
another three million of its Renault shares to current and
former Renault employees.
Following these
two stake sales, the French
government would
hold roughly 15% of Renault's share capital (down from the
25.9% it had previously owned), representing 18.5% of
voting rights. The French government
plans to hold onto the 15% stake for the short to medium
term.
Sources: Renault.com and
other Internet Articles
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