Renault limited to 44% stake in Nissan under agreement, filing shows

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In an annual securities report filed in Tokyo, Nissan said Renault (EPA:RENA) was not allowed to increase its stake in the Japanese automaker beyond 44% without Nissan’s permission, with the exception of cases such as other entity bidding for Nissan.

Renault owns around 43% of Nissan while the Japanese carmaker owns 15% of its top shareholder, but without voting rights.