Renault and Nissan Motor¡¯s boards are set to greenlight a landmark deal to reshape their troubled two-decade alliance just hours before an official event unveiling more details of the plan, according to people familiar with the situation.
Renault directors are gathering Sunday followed by Nissan¡¯s board early on Monday, said the people, who asked not to be identified discussing information that hasn¡¯t been made public. Both boards are expected to agree to the proposals, according to the people.
Renault and Nissan this week outlined their in-principle agreement on a deal to rebalance cross-capital ties and cooperation on future projects with a goal of resetting their alliance that also includes junior partner Mitsubishi Motors. The votes will come shortly before executives from the three companies hold a media conference in London on Monday to share more about their plans, with final details on timing and venue being ironed out, the people said.
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