Nissan takes controlling stake in Mitsubishi - Carlos Ghosn to be New chairman

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Nissan takes controlling stake in Mitsubishi - Carlos Ghosn to be New chairman

Nissan Motor Co., Ltd., ("Nissan") completed its acquisition of a 34% equity stake taking de facto control in Mitsubishi Motors ("MMC") and became its largest shareholder. The deal would give Nissan a bigger stake in Mitsubishi than its 15 percent holding in alliance partner Renault.

MMC will also become part of the global Alliance with Nissan and Renault. With the addition of MMC, the Alliance will be in the world's top three automotive groups behind Toyota Motor Corp. and Volkswagen AG by global volumes, with sales of 10 million units in fiscal year 2016.

The two companies have identified a number of valuable synergies in areas including:
- Joint purchasing cost-reduction
- Deeper localization in operations around the world
- Joint plant utilization
- Common vehicle platforms
- Joint plant utilization
- Common vehicle platforms
- Technology sharing
- Cooperation in emerging and developed markets and
- The use of the Nissan Sales Finance Company to serve MMC customers in any   
  market where mutually beneficial

This alliance will boost Nissan which is Japan's second-largest car maker to make inroads into Southeast Asia, in countries like Thailand and the Philippines, where Mitsubishi's models are popular.

Nissan CEO Carlos Ghosn Message on Mitsubishi Motors

Nissan CEO Carlos Ghosn Message on Mitsubishi Motors - October 20, 2016

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