Global law firm Hogan Lovells has advised Nissan on the strategic and legal aspects of the restructuring of its shareholdings in Renault Nissan Automotive India Private Ltd. (“RNAIPL”) and Renault Nissan Technology and Business Centre India Private Ltd (“RNTBCI”), as part of a global re-organisation of the alliance between Nissan and Renault.
A framework agreement was entered into on 10 February 2023 by and between Nissan and Renault to agree on the direction and principles in order to reset the Nissan/Renault alliance in India. The deal was subject to certain sale conditions including CCI approval in India (which was granted on 26 October 2023) before closing successfully on 14 March 2024.
As part of the restructuring, Nissan and Renault agreed to rebalance their equity ownership interests in RNAIPL to an ownership of 51% (Nissan) and 49% (Renault). Nissan and Renault also agreed to rebalance their economic rights in RNTBCI to 49% (Nissan) and 51% (Renault).
The Hogan Lovells team advising Nissan was led by Corporate and Finance partner Jacky Scanlan-Dyas (Tokyo), with support from counsel Viet Nguyen (Tokyo) and associate William Tan (Tokyo). Additional support was provided by partner Xavier Doumen (Paris), senior associate Chantalle Schoegje (Amsterdam), associate Thomas Gluzman (Paris), and paralegal Yuzumi Tsubaki (Tokyo), with assistance on IP matters provided by Office Managing Partner Dr. Frederick Ch’en (Tokyo) and consultant Kyal Hill (Tokyo). AZB & Partners acted as local Indian legal counsel on the deal.
Jacky Scanlan-Dyas commented, “We are pleased to have supported Nissan on this important milestone in its long-term vision for India and ongoing restructuring of operations worldwide.”
