Nissan, Renault move toward alliance rejig, to make statement -sources

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The restructured alliance, which has been in the works for months, will likely see Renault (EPA:RENA) cut its stake in Nissan to around 15% from 43%, Reuters has reported, as well as seeing Nissan invest in the French automaker’s new electric vehicle unit.

The two companies are moving toward an agreement on the details and will make a joint statement later on Monday, the sources said, declining to be identified because the information has not been made public.

The timing of the statement and other details were earlier reported by the Nikkei business daily.

A Nissan spokesperson declined to comment. A Renault spokesperson could not be immediately reached for comment outside regular working hours.