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

Published 03/26/2020, 09:20 AM
Updated 03/26/2020, 09:25 AM
© Reuters. A logo is seen during the inauguration of Renault-Nissan-Mitsubishi's joint innovation lab in Tel Aviv, Israel

PARIS (Reuters) - Japanese conglomerate Mitsubishi Corp (T:8058) could potentially take a 10% stake in French carmaker Renault (PA:RENA) as part of scenarios being discussed to reinforce an alliance between Renault, Nissan (T:7201) 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 20% stake in Mitsubishi Motors, which counts Japan's Nissan as its biggest shareholder.

Nissan in turn owns 15% of Renault and Renault has 43% of Nissan.

© Reuters. A logo is seen during the inauguration of Renault-Nissan-Mitsubishi's joint innovation lab in Tel Aviv, Israel

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