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Nissan and Mitsubishi Motors Plan Alliance. Nissan will take a 34% equity stake in MMC for 237 billion yen 2016.05.14

Yokohama and Tokyo, Japan - May 12, 2016 - Nissan and Mitsubishi Motors (MMC) announced Thursday that they have signed a Basic Agreement to form a far-reaching strategic alliance between the two Japanese automakers. Following an MMC share issue, Nissan will take a 34% equity stake in MMC for 237 billion yen. The strategic alliance will extend an existing partnership between Nissan and MMC, under which the two companies have jointly collaborated for the past five years. Nissan and MMC have agreed to cooperate in areas including purchasing, common vehicle platforms, technology-sharing, joint plant utilization and growth markets.

Nissan and Mitsubishi Motors Press Conference.
Photo courtesy of Nissan
 

Yokohama and Tokyo, Japan – May 12, 2016

Nissan and Mitsubishi Motors Corporation (MMC) announced Thursday that they have signed a Basic Agreement to form a far-reaching strategic alliance between the two Japanese automakers.

Following an MMC share issue, Nissan will take a 34% equity stake in MMC for 237 billion yen.

The strategic alliance will extend an existing partnership between Nissan and MMC, under which the two companies have jointly collaborated for the past five years.

Nissan and MMC have agreed to cooperate in areas including purchasing, common vehicle platforms, technology-sharing, joint plant utilization and growth markets.

Carlos Ghosn, chief executive and president of Nissan.
Photo courtesy of Nissan
 
Carlos Ghosn, chief executive and president of Nissan, said:

“This is a breakthrough transaction and a win-win for both Nissan and Mitsubishi Motors. It creates a dynamic new force in the automotive industry that will cooperate intensively, and generate sizeable synergies. We will be the largest shareholder of MMC, respecting their brand, their history and boosting their growth prospects. We will support MMC as they address their challenges and welcome them as the newest member of our enlarged Alliance family.”

Osamu Masuko, chairman of the board and chief executive of MMC.
Photo courtesy of Nissan
 
Osamu Masuko, chairman of the board and chief executive of MMC, said:

“Through its long history of successful partnerships Nissan Motor has developed a deep knowledge of maximizing the benefits from alliance partnerships. This agreement will create long term value needed for our two companies to progress towards the future. We will achieve long term value through deepening our strategic partnership including sharing resources such as development, as well as joint procurement.”

Nissan and Mitsubishi Motors Press Conference.
Photo courtesy of Nissan
 
Under the terms of the transaction, Nissan will purchase 506.6 million newly-issued MMC shares at a price of 468.52 yen per share.
Nissan will become the largest shareholder of MMC on closing.

MMC and Nissan expect Mitsubishi Heavy Industries, Mitsubishi Corporation and The Bank of Tokyo – Mitsubishi UFJ to maintain a significant collective ownership stake in Mitsubishi Motors, and to support the strategic alliance.

The transaction is subject to the signing of a definitive Alliance Agreement, expected by the end of May 2016, the signing of a shareholders’ agreement with the current Mitsubishi Group shareholders of MMC, and regulatory approvals. It is expected to close by the end of the year.

Carlos Ghosn, chief executive and president of Nissan (left) and Osamu Masuko, chairman of the board and chief executive of MMC.
Photo courtesy of Nissan
 

Nissan and Mitsubishi Motors Press Conference

http://www.ustream.tv/recorded/86750625  


Source: Nissan

http://reports.nissan-global.com/EN/  



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Toyota Announces New Venture with Microsoft 'Toyota Connected', Expands Focus on Software- and Data-Driven Mobility


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ASTROMAN Magazine - 2016.03.14

The 86th Geneva International Motor Show: An exceptional vintage!

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ASTROMAN Magazine - 2016.01.23

GM Launches Personal Mobility Brand: Maven


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North American International Auto Show Announces Technology Partnership with IBM

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ASTROMAN Magazine - 2016.01.15

2016 North American International Auto Show Drives It Home With 50-Plus Production and Concept Reveals


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ASTROMAN Magazine - 2016.01.10

Technology Connects. Industries Collaborate. Innovation Betters the World at CES 2016


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ASTROMAN Magazine - 2016.01.10

CES 2016 Brings the Future of Technology Innovation to Market

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ASTROMAN Magazine - 2016.01.08

CES 2016 Opens with Technology Changing the World


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ASTROMAN Magazine - 2015.11.07

The 44th Tokyo Motor Show 2015 - The city of the future feel and experience the connection between cars, lifestyles and society


http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1990  


ASTROMAN Magazine - 2015.06.12

Tesla's mission is to accelerate the world's transition to sustainable transport

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ASTROMAN Magazine - 2015.04.12

Delphi Successfully Completes First Coast-to-Coast Automated Drive From San Francisco to New York


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Editor-in-Chief of ASTROMAN magazine: Roman Wojtala, Ph.D.


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