Daimler-Renault agreement imminent
In discussions for several months, Renault and Daimler could seal the alliance next month. Reportedly, Renault convened April 6 board of directors on this extraordinary subject. Y will be referred to the amplitude of the partnership between the two groups and an exchange of shareholdings which reach a symbolic level of around 3% of the capital, the Financial Times.
The holding of this board proves both that the proposed partnership is strategic and that Renault wants to make a quick decision. The aim is to announce in the wake to shareholders of Daimler and Renault, whose general meetings held respectively on 14 and April 30.
A partnership on small cars appears to be established."We saw no fundamental obstacle that would prevent an agreement", said earlier this month Dieter Zetsche, head of Daimler, maker of Mercedes and Smart. Both groups were formalized in late 2009 for discussions on small cars. He would share components between models Renault, the successor of the Mercedes A and B and the Future Smart, and even create a common platform to both manufacturers for smaller models. The agreement would also cover vehicles and electric utilities. This would allow Daimler, which has lost a lot of money with its smart, make economies of scale crucial.
Carlos Ghosn, CEO of Renault, has never hidden his willingness to open the Renault-Nissan Alliance in a third partner, bad credit payday advance . Objective: "search for additional synergies.The owner of the mark in the Diamond does not believe the alliance cooperation without capital, only "a symbol that the relationship is long term." "It is difficult to ask the engineers of two competing companies to share fully their skills without the link," said he.
Participation Nissan
The Japanese Nissan, which Renault owns 44%, could also be part of the agreement with Daimler. According to the Nikkei, Daimler would provide bigger engines to Nissan, which in turn would make electric cars and batteries to the German group."If Renault signs an alliance with Daimler extent, I suppose Nissan will join the alliance," said a Nissan executive quoted by the Japanese newspaper.
An equity cross between Renault and Daimler mean that the obstacle of the valuation gap between the two groups (10 billion euros to 37 billion French and in German at the current rate) has been bypassed. To simplify things, Daimler would provide the 3.5% it owns in his own group, according to Bloomberg. Finally, the merger could also speed the withdrawal of Renault in Volvo AB, the truck manufacturer with the French group holds 20%.