Renault and Nissan hammer out historic deal to salvage alliance

Renault and Nissan have hammered out a historic deal to salvage their troubled 24-year-old alliance. Under the deal, the carmakers have agreed to equalize their stake-holdings in each other. Renault will cut its 43 percent stake in Japan’s Nissan to 15 percent by transferring a 28.4 percent stake to a French trust.

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