Exclusive: FCA-Renault revival may hinge on Nissan stake cut

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Thread: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

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    Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    Exclusive: FCA-Renault revival may hinge on Nissan stake cut - sources
    Laurence Frost
    JUNE 9, 2019
    reuters.com

    PARIS (Reuters) - Fiat Chrysler Automobiles NV and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmakerís alliance partner Nissan Motor Co Ltd , according to several sources close to the companies.

    Nissan is poised to urge Renault to significantly reduce its 43.4% stake in the Japanese company in return for supporting a FCA-Renault tie-up, two people with knowledge of its thinking also told Reuters.

    It is still far from clear whether any concerted effort to revive the complex and politically fraught deal can succeed. FCA Chairman John Elkann abruptly withdrew his $35 billion merger offer in the early hours of June 6 after the French government, Renaultís biggest shareholder, blocked a vote by its board and demanded more time to win Nissanís backing. Nissan representatives had said they would abstain.

    REVIVAL TALKS

    Italian-American FCA - whose brand stable encompasses Fiat runabouts, Jeep SUVs, RAM pickups and Maserati sports cars - has so far turned a deaf ear to suggestions by French officials that its merger proposal could be revisited.

    But since the breakdown, Elkann and his French counterpart Jean-Dominique Senard have had talks about reviving the plan that left the Renault chairman and his Chief Executive Thierry Bollore upbeat about that prospect, three alliance sources said.

    Renault and a spokesman for FCA declined to comment.
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    GMI Staff Member Premium Member nadepalma's Avatar
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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    The involvement (and heavy-handedness) of the French government had a hand in talks falling apart (see How France’s Intrusive Demands Quashed the Fiat-Renault Deal).

    However, Nissan's own stake (and apparent desire for independence and some autonomy) also has a role to play in these negotiations.

    It's not secret that Nissan doesn't want to merge -- at least not now and with Renault in control of the merged company.

    The French government doesn't want to see the gravity of power and influence shift to Japan (which would arguably happen since Nissan-Mitsubishi is the larger, more profitable entity).

    Perhaps FCA making their own play will help to rebalance the equation while also better serving FCA's own aspirations (and those of the Agnelli family).
    Last edited by nadepalma; 06-10-2019 at 09:40 PM.
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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    Nissan could not make it any more clear that they want out.

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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    I'd take the French over the Emperor's Henchmen if I had to choose. Good luck, Nissan, making it on your own with only jailers for your leadership cadre. And of course the Emperor.
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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    Scotty Kilmer, the youtube shadetree mechanic says this is great that all the crappy carmakers are being herded into one company that everyone can avoid.

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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    Someone at ChryCo should throw in FREE CARLOS, Nissan creeps!, as part of the deal. It's the only way that guy will see the light of day again, given the "legal system" as it exists in Japan. And almost all other countries, including the USA, for that matter. Piss off the prosecutor (or his higher-ups), you can fuggeddaboutit.
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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    Quote Originally Posted by Neanderthal View Post
    Someone at ChryCo should throw in FREE CARLOS, Nissan creeps!, as part of the deal. It's the only way that guy will see the light of day again, given the "legal system" as it exists in Japan. And almost all other countries, including the USA, for that matter. Piss off the prosecutor (or his higher-ups), you can fuggeddaboutit.
    Sad but true. I spent some time in court handling a probate as executor and watched cases where it was obvious that the state assigned defense attorney, prosecutor, and judge had simply gotten together before the trial and agreed to what the penalty would be. It was a negotiation between the office of the district attorney and the defense attorney, not a trial. And these weren’t all plea bargained cases.

    Never waive your right to a jury trial. Ever. Unfortunately for Carlos, he doesn’t really have as many options to waive in the first place.

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    Re: Exclusive: FCA-Renault revival may hinge on Nissan stake cut

    They all deserve one another.

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