Detroit & Boulogne-Billancourt, France and Tokyo, Japan
General Motors, Renault and Nissan (Nasdaq:NSANY) said that they had agreed to terminate discussions regarding a proposed alliance among the three companies.
The parties mutually recognized that significant aggregate synergies might result from the alliance. However the parties did not agree on either the total amount of aggregate synergies or the distribution of those benefits.
Based on its conclusions, GM had proposed that Renault-Nissan provide compensation as part of a potential alliance and for potentially precluding GM from entering other alliance opportunities if Renault-Nissan had made a significant investment in GM.
Renault and Nissan consider that the principle of compensation is contrary to the spirit of any successful alliance.
CONTACT: Nissan Simon Sproule + 44 7775 667 994 Frederique Le Greves 1-310-480-0946 Nissan Online News Bureau: www.nissannews.com
CONTACT: Nissan Simon Sproule + 44 7775 667 994 Frederique Le Greves 1-310-480-0946 Nissan Online News Bureau: www.nissannews.com , ,
Source: Business Wire (Business Wire India)