URGENT: Nissan announces Renault to reduce stake in Japan carmaker to 15%

Nissan Motor Co. announced Monday its alliance partner Renault SA will reduce its stake in the Japanese company from 43 percent to 15 percent, equal to Nissan’s stake in the smaller French carmaker.

Nissan also said it will take a stake in Renault Group’s new electric vehicle venture, Ampere, becoming a “strategic shareholder.”

The Japanese carmaker said Renault will transfer 28.4 percent of its shares in Nissan into a French trust, with dividends maintained to benefit the French partner until the shares are sold.