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November 30, 1999 | CHRIS KRAUL, TIMES STAFF WRITER
This country's automobile industry, already booming thanks to free-trade pacts with the U.S. and Canada, can expect another big boost from the historic trade agreement signed last week with the European Union. It will mean even more Mexican-built cars streaming into the U.S., on top of the hundreds of thousands of Volkswagen Beetles, Dodge Rams, Plymouth Neons, Chevy Cavaliers and other models already shipped north of the border each year.
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BUSINESS
December 8, 2007 | From Times Wire Services
Renault, France's second-largest automaker, agreed to buy 25% of Russia's OAO AvtoVAZ, fending off a bid from General Motors Corp. Renault will purchase the stake in Russia's No. 1 car company from state-owned arms exporter Rosoboronexport, a spokesman for the defense firm said. He declined to give a price.
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BUSINESS
March 17, 1999 | MARK MAGNIER, TIMES STAFF WRITER
Renault of France offered Tuesday to buy a controlling 35% share of troubled Nissan Motor Co., a deal that would give Europe its first beachhead to Japan's auto-manufacturing industry. Although details are still being negotiated, the linkup would in theory enable Nissan, No. 7 worldwide in vehicle production, and No. 11 Renault to compete more effectively against bigger players in the rapidly consolidating global auto industry.
BUSINESS
September 29, 2006 | John O'Dell, Times Staff Writer
Billionaire investor Kirk Kerkorian, still pushing General Motors Corp. to pursue an alliance with Renault and Nissan Motor Co., said Thursday that he wanted to boost his 9.9% GM stake by at least 6 million shares and possibly by 12 million. The move, which helped boost the Detroit automaker's share price by 2.4%, is seen by some analysts as a bid by Kerkorian to muscle GM into such a tie-up in hopes of speeding its turnaround from a year and a half of deep losses.
BUSINESS
January 6, 2000 |
French auto maker Renault said it's in talks to acquire all or part of Samsung Motor Inc. as it seeks to expand its alliance with Nissan Motor Co. in Asia. Samsung Group confirmed Renault's statement, saying it's been in exclusive talks with the French company since Dec. 30. Samsung Motor, by far the smallest of South Korea's auto makers--capable of making 180,000 cars a year--uses Nissan technology.
BUSINESS
March 26, 1999
Renault may sign a $5-billion deal with Nissan Motor Co. that includes Renault taking a 35% stake in the ailing Japanese car maker. Renault made a formal offer to buy a Nissan stake on March 16, after talks between Japan's second-largest auto maker and Germany's DaimlerChrysler broke down. Nissan has sought a foreign partner to help it write off its $18-billion debt and return to profitability. Under the agreement, Renault would dispatch one of its vice presidents to assume Nissan's No.
BUSINESS
January 19, 1999
French auto maker Renault confirmed it's in talks with Nissan Motor Co. as well as other companies, in a move to expand in Asia. Renault said it is considering taking an equity stake in Nissan, the troubled Japanese auto maker that is also being courted by DaimlerChrysler. Renault aims to expand its sales in Asia to 10% of total sales from its current 3%.
BUSINESS
March 13, 2001 | Associated Press
French auto maker Renault and Nissan Motor Co. of Japan said they are setting up a company to buy parts in a move to improve their leverage over suppliers and obtain better prices. Renault has been working with Nissan to develop cars and share parts since it acquired a 36.8% stake in the Japanese auto maker two years ago.
BUSINESS
October 31, 2001 | Bloomberg News
Partners Nissan Motor Co. and Renault plan to extend their thus-far successful alliance, with the Japanese auto maker agreeing Tuesday to buy as much as 15% of its French partner as they seek to develop new vehicles together and find ways to share costs. Paris-based Renault, in turn, will exercise an option to raise its stake in Japan's No. 2 auto maker next year, from 37% to 44%, at a cost of about $1.8 billion. The companies said Nissan will pay about $1.1 billion for its Renault stake.
BUSINESS
December 8, 2007 | From Times Wire Services
Renault, France's second-largest automaker, agreed to buy 25% of Russia's OAO AvtoVAZ, fending off a bid from General Motors Corp. Renault will purchase the stake in Russia's No. 1 car company from state-owned arms exporter Rosoboronexport, a spokesman for the defense firm said. He declined to give a price.
BUSINESS
September 28, 2006 | From Times Wire Services
General Motors Corp., Nissan Motor Co. and Renault will continue talks as planned until mid-October on a possible global alliance, the automakers said Wednesday after their chief executives met. GM's Rick Wagoner met on the eve of the Paris Motor Show with Carlos Ghosn, who heads both Nissan of Japan and its controlling partner, Renault of France. "It's fair to say that we agreed that Oct.
BUSINESS
September 26, 2006 | From Bloomberg News
Carlos Ghosn, chief executive of automakers Nissan Motor Co. and Renault, and his General Motors Corp. counterpart, Rick Wagoner, will meet in Paris this week to review the progress of talks on a possible alliance. Nissan of Japan and Renault of France have been in discussions with GM since July 14 about whether to add the Detroit-based automaker to their current alliance. The companies will announce by Oct. 15 whether they will pursue a tie-up.
BUSINESS
September 7, 2006 | From Reuters
AUTOS French carmaker Renault confirmed that it was hiring two advisory banks for a possible alliance with General Motors Corp. and its existing ally, Nissan Motor Co. GM and Renault have launched a 90-day study into the possibilities of a three-way alliance with GM. The Financial Times said that Renault had hired investment bank BNP Paribas to advise it on a possible three-way tie-up and that the carmaker had a list of other investment banks to advise it on the deal.
BUSINESS
August 24, 2006 | From Times Wire Services
Shares of Ford Motor Co. surged 4.6% on Wednesday after a news report that Chief Executive William Clay Ford Jr. had approached Carlos Ghosn, CEO of Nissan and Renault, about forming a global alliance. The report in the Wall Street Journal cited "a person wellpositioned to know." It was part of a commentary in the paper's opinion section by Paul Ingrassia, vice president for news strategy of Journal publisher Dow Jones & Co., and Joseph B. White, the paper's Detroit bureau chief.
BUSINESS
July 19, 2006 | From Reuters
General Motors Corp. Chief Executive Rick Wagoner said Tuesday that he planned to keep his job even if the Detroit-based automaker entered a three-way alliance with Nissan Motor Co. and Renault. "I have no intention of leaving my position at GM," he told reporters when asked if he would step down should Carlos Ghosn, CEO of Nissan of Japan and Renault of France, win a GM board seat.
BUSINESS
July 15, 2006 | Martin Zimmerman, Times Staff Writer
The chief executive of General Motors Corp. and the head of the Nissan Motor Co.-Renault partnership agreed Friday to cooperate on a joint review of the possible benefits of an "industrial alliance" among the three auto companies.
BUSINESS
August 24, 2006 | From Times Wire Services
Shares of Ford Motor Co. surged 4.6% on Wednesday after a news report that Chief Executive William Clay Ford Jr. had approached Carlos Ghosn, CEO of Nissan and Renault, about forming a global alliance. The report in the Wall Street Journal cited "a person wellpositioned to know." It was part of a commentary in the paper's opinion section by Paul Ingrassia, vice president for news strategy of Journal publisher Dow Jones & Co., and Joseph B. White, the paper's Detroit bureau chief.
BUSINESS
July 19, 2006 | From Reuters
General Motors Corp. Chief Executive Rick Wagoner said Tuesday that he planned to keep his job even if the Detroit-based automaker entered a three-way alliance with Nissan Motor Co. and Renault. "I have no intention of leaving my position at GM," he told reporters when asked if he would step down should Carlos Ghosn, CEO of Nissan of Japan and Renault of France, win a GM board seat.
BUSINESS
July 14, 2006 | From Reuters
Carlos Ghosn, chief executive of automakers Renault and Nissan Motor Co., on Thursday ruled out running General Motors Corp. in an expanded alliance that will be the focus of talks to begin today. "I'm not going to run any other third company, and that's not what's at stake here," Ghosn told business channel CNBC in an interview Thursday. Kirk Kerkorian, GM's largest individual shareholder, proposed the tie-up June 30.
BUSINESS
July 8, 2006 | John O'Dell, Times Staff Writer
The directors of General Motors Corp. on Friday authorized the giant automaker to explore the feasibility of a global alliance with Nissan Motor Co. of Japan and its French partner, Renault. GM Chairman and Chief Executive Rick Wagoner, the architect of the company's current turnaround plan, will head the review team. He has scheduled a meeting with his counterpart at the Nissan-Renault alliance, Carlos Ghosn, reportedly for July 14.
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