Latham & Watkins advised Nissan on new binding framework agreement of Renault-Nissan-Mitsubishi Alliance

Latham & Watkins advised Nissan on new binding framework agreement of Renault-Nissan-Mitsubishi Alliance

Latham & Watkins, an American multinational law firm with its roots in Los Angeles, has advised the leading Japanese automotive group Nissan Motor Co. Ltd. on the negotiation of the new framework agreement between Nissan and Renault Group.

This includes a three-dimension programme to maximise value for all stakeholders of the Renault-Nissan-Mitsubishi Alliance.

The programme includes:

• High-value-creation operational projects in line with the Alliance roadmap towards 2030, with projects under consideration in Latin America, India, and Europe,

• Enhanced strategic agility, exploring existing strategies in electrification and low-emission,

• A rebalanced the Renault Group-Nissan cross-shareholding and reinforced Alliance governance whereby Nissan and Renault Group would retain a 15 per cent cross-shareholding, and where Renault Group would transfer 28.4 per cent of Nissan shares into a French trust.

The transactions contemplated in the framework agreement would be subject to a limited number of conditions precedent, including negotiation of additional definitive agreements and regulatory approvals, and completion is expected to occur in the fourth quarter of 2023.

The cross-border Latham team was led in Paris and Tokyo by corporate partners Olivier du Mottay, Hiroki Kobayashi, and Ivan Smallwood, assisted by Charles-Antoine Guelluy and Michael Yoshii.

Advice was also provided from Paris by antitrust & competition partner Jacques-Philippe Gunther and international arbitration partner Fernando Mantilla-Serrano; and from London by partners Martin Saywell, Beatrice Lo, and Stuart Davis.