Renault to buy Nissan's stake in India manufacturing unit, taking full ownership
FILE PHOTO: A worker walks past parked Renault cars at its stockyard on the outskirts of the western Indian city of Ahmedabad June 11, 2013. REUTERS/Amit Dave/File Photo
Renault Group said on Monday it would acquire the remaining 51 per cent shareholding in Renault Nissan Automotive India Private Ltd, currently held by Nissan Motor Corp, taking complete ownership of the manufacturing plant.
Located in the southern Indian city of Chennai, RNAIPL began operations in 2010, with Paris-based Renault and Japan-based Nissan holding a 30 per cent and 70 per cent stake, respectively.
Nissan's stake was reduced to 51 per cent as part of a deal in 2023 to jointly invest $600 million to make six new models in India.
Source: Reuters
