As per the deal, Renault Group B.V. and its nominee, Renault S.A.S., will acquire equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares currently held by Nissan Motor Company Ltd., Japan, and Nissan Overseas Investments B.V. (together referred to as the “Sellers”) in the Indian joint venture — Renault Nissan Automotive India Private Ltd, according to an official release.
The CCI stated that a detailed order will be issued in due course.
Renault Group B.V. is engaged in designing, manufacturing, and marketing passenger cars, electric vehicles, and light commercial vehicles, and also offers mobility solutions globally. Renault S.A.S. is involved in the construction, trading, repair, and rental of motor vehicles, as well as the production of vehicle parts and provision of related services. Both entities are part of the Renault Group and are ultimately controlled by Renault S.A.
Renault Nissan Automotive India Private Ltd is engaged in the manufacturing and assembly of passenger vehicles and components, and provides related services to both Renault and Nissan in India.
In April this year, it was announced that French carmaker Renault Group would buy out Nissan’s stake in the Indian joint venture, Renault Nissan Automotive India Private Ltd (RNAIPL), which is the first dedicated Alliance manufacturing plant globally for the Renault–Nissan Alliance. The first vehicle—Nissan Micra—was rolled out from this factory in 2010.
Following the deal, Renault Group will hold 100% ownership of RNAIPL by acquiring Nissan’s 51% stake.