Nissan and Renault Plan to Extend Pact
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Partners Nissan Motor Co. and Renault plan to extend their thus-far successful alliance, with the Japanese auto maker agreeing Tuesday to buy as much as 15% of its French partner as they seek to develop new vehicles together and find ways to share costs.
Paris-based Renault, in turn, will exercise an option to raise its stake in Japan’s No. 2 auto maker next year, from 37% to 44%, at a cost of about $1.8 billion.
The companies said Nissan will pay about $1.1 billion for its Renault stake.
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