Renault, Nissan further loosen ties to support Japanese firm's turnaround
Lifestyle
PARIS :Automakers Renault and Nissan said on Monday they had agreed to further amend their two-decade-old partnership to allow for a reduction in their cross-shareholdings in a move aimed at helping Nissan's recovery. The change in terms, lowering the required shareholding to 10 per cent from 15 per cent previously, comes a day before Ivan Espinosa takes over as CEO of the struggling Japanese carmaker, under pressure to significantly boost its competitiveness. Nissan will also be released from
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