Nissan, Renault reach agreement for Renault to lower stake to 15% -Nikkei By Reuters

TOKYO (Reuters) – Nissan (OTC:) Motor Co and Renault SA (OTC:) have reached an agreement to lower the French automaker’s stake in the Japanese carmarker to 15% from 43%, the business daily reported on Monday.

The two companies are set to release a statement later on Monday, the newspaper said. Nissan has also agreed to invest in Renault (EPA:)’s new battery-electric unit that is being spun out of the carmaker, the Nikkei said.

Renault has been looking for Nissan to invest in that business, while Nissan wants Renault, its top shareholder, to sell down its stake and put the 23-year-old alliance on more equal footing, Reuters has reported.