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June 2, 2017updated 22 Feb 2022 9:20am

Investor groups seek Renault-Nissan governance probe

Shareholder activist groups are asking a French regulator to investigate conflicts of interest and possible breaches of governance at the Renault-Nissan Alliance, according to reports.

By David Leggett

Shareholder activist groups are asking a French regulator to investigate conflicts of interest and possible breaches of governance at the Renault-Nissan Alliance, according to reports.

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Reuters reports that Proxinvest is among a group of activists that have put their case for a Renault -Nissan review in a letter to the French AMF market watchdog.

The letter, according to Reuters, claims that Renault failed to adequately inform shareholders about a transfer of decision-making powers to its Renault -Nissan BV joint venture, or to respect the procedure for their renewal in 2012 for ten years.

It also reportedly points to potential conflicts of interest arising from Alliance chief Carlos Ghosn’s multiple roles – he is chairman and chief executive of Renault as well as chairman of both Mitsubishi and Nissan, where he also served as CEO until earlier this year.

The letter said a creeping transfer of power to the Dutch-listed RNBV venture has been taking place since 2002 without “adequate governance mechanisms or protections for Renault shareholders” or any new regulatory scrutiny.

Reuters notes that the conflict of interest allegations partly repeat complaints aimed at Carlos Ghosn by the French government during a 2015 power struggle that involved then finance minister Emmanuel Macron, who is now France’s President.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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