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Report: Nissan, Renault Near Deal

March 15, 1999

TOKYO (AP) _ Nissan Motor Co., Japan’s second-largest automaker, and Renault SA of France could reach some kind of deal as early as this week, Japan’s national broadcaster said Monday.

The expected agreement would follow negotiations held Saturday in Paris between Nissan president Yoshikazu Hanawa and Renault chairman Louis Schweitzer, the Japan Broadcasting Corp. NHK said.

Nissan spokesman Keiichi Tsuboi said Monday that he could not comment on the content or progress of the talks.

In an interview with NHK, Schweitzer was quoted as that a deal will be announced soon.

Haniwa, who returned home on Sunday, told reporters that his talks with Schweitzer were ``friendly.″

Renault will decide on Tuesday the size of the stake it will take in Nissan, the report said. The French company is reportedly considering taking up to 33.4 percent in the struggling Japanese automaker.

A 33.4 percent stake gives a shareholder the right to veto major company decisions.

The pace of Nissan’s negotiations with the French automaker picked up last Wednesday when its equity talks with DaimlerChrysler AG collapsed.

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