RENAULT-NISSAN ALLIANCE SEEN.Byline: Noelle Knox Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. French car maker Renault SA would buy a controlling stake in Japan's debt-ridden Nissan Motor Co. in a deal expected to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. tonight in Paris following a meeting of Renault's board, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a Nissan executive. While Renault's plans still would have to be approved by a Renault employee council, Nissan's board is scheduled to meet Friday to approve the new alliance. Renault is expected to invest between $4 billion and $6 billion in Nissan in exchange for roughly a one-third stake in the company, the executive, who spoke on condition of anonymity, said Monday. With a 33.4 percent or larger stake, Renault would have veto veto [Lat.,=I forbid], power of one functionary (e.g., the president) of a government, or of one member of a group or coalition, to block the operation of laws or agreements passed or entered into by the other functionaries or members. In the U.S. power over Nissan's decisions. The alliance, which would create the world's fifth-largest automaker, would give Renault a premiere distribution system in Asia as well as access to Nissan's superior technology in engines, suspension, batteries and fuel cells. Nissan, in turn, would get a desperately needed cash infusion, better European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. distribution and management talent. |
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