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Mitsubishi Corp could take 10% stake in Renault in alliance rejig: report

Kitco News

PARIS (Reuters) - Japanese conglomerate Mitsubishi Corp (8058.T) could potentially take a 10% stake in French carmaker Renault (RENA.PA) as part of scenarios being discussed to reinforce an alliance between Renault, Nissan (7201.T) and Mitsubishi Motors, Les Echos newspaper reported on Thursday.

Restructuring plans, plant closures and cost savings schemes are being discussed, with changes in the capital structure of the three-way alliance also envisaged, Les Echos reported.

Renault could not be reached for immediate comment.

At present, Mitsubishi Corp has a 20% stake in Mitsubishi Motors, which counts Japan’s Nissan as its biggest shareholder.

Nissan in turn owns 15% of Renault and Renault has 43% of Nissan.

Reporting by Sarah White; editing by Jason Neely

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