Mitsubishi Corp could take 10per cent stake in Renault in alliance rejig: report

Mitsubishi Corp could take 10per cent stake in Renault in alliance rejig: report

Japanese conglomerate Mitsubishi Corp could potentially take a 10per cent stake in French carmaker Renault as part of scenarios being discussed to reinforce an alliance between Renault, Nissan and Mitsubishi Motors, Les Echos newspaper reported on Thursday.

A logo is seen during the inauguration of Renault-Nissan-Mitsubishi's joint innovation lab in
FILE PHOTO: A logo is seen during the inauguration of Renault-Nissan-Mitsubishi's joint innovation lab in Tel Aviv, Israel June 10, 2019. REUTERS/Amir Cohen

PARIS: Japanese conglomerate Mitsubishi Corp could potentially take a 10per cent stake in French carmaker Renault as part of scenarios being discussed to reinforce an alliance between Renault, Nissan and Mitsubishi Motors, Les Echos newspaper reported on Thursday.

Restructuring plans, plant closures and cost savings schemes are being discussed, with changes in the capital structure of the three-way alliance also envisaged, Les Echos reported.

Renault could not be reached for immediate comment.

At present, Mitsubishi Corp has a 20per cent stake in Mitsubishi Motors, which counts Japan's Nissan as its biggest shareholder.

Nissan in turn owns 15per cent of Renault and Renault has 43per cent of Nissan.

(Reporting by Sarah White; editing by Jason Neely)

Source: Reuters

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