Nissan, Renault in merger talks over new automaker
Renault and Nissan Motor are in talks to merge and create a new automaker that trades as a single stock, in a deal market watchers say would end the current alliance between the companies and marry them as one corporation, said the people, who asked not to be identified as the details aren’t public.
Renault currently owns 43 percent of Nissan while the Japanese automaker has a 15 percent stake in its French counterpart. Carlos Ghosn, the chairman of both companies, is driving the negotiations and would run the combined entity, the people said.
The parties are discussing a transaction in which Nissan would essentially give Renault shareholders stock in the new company and Nissan shareholders would also receive shares in the new company in exchange for their holdings while the automaker may maintain headquarters in both Japan and France.
The French government owns 15 percent of Renault and may be reluctant to relinquish control over its stake or have its position watered down. Both governments would also have to approve a deal and may have strong opinions on where the combined company is domiciled.
One possibility would be to base the company in London or the Netherlands, where cross-Atlantic automaker Fiat Chrysler Automobiles has its corporate charter. FCA maintains headquarters in both Italy and the U.S.
In April, Mitsubishi Motors in which Nissan is the largest shareholder will further integrate with the alliance by joining a shared parts-purchasing organization.
The alliance forecasts unit sales of 14 million units by 2022, compared with 10.6 million last year. Volkswagen Group, the world’s largest automaker, sold 10.7 million vehicles last year.
While the companies have claimed a multitude of benefits from their partnership, its staying power could be complicated until imbalances in the companies’ ownership structures are resolved.
Ghosn reiterated last month that Japan wouldn’t agree to a tighter structure if France remains a shareholder. He also said he isn’t trying to convince the French state to reduce its stake in Renault.
A spokesman for the Renault-Nissan alliance said the group doesn’t comment on rumours and speculation, while a spokesman for the French finance ministry declined to comment. Representatives for Nissan and Renault also declined to comment.
(4) School children emerge winners in Toyota DCAC
A total of nine lucky primary and secondary school winners out of a total of the original 1162 participants have emerged as final winners in the annual Toyota Dream Car Art Contest (DCAC) in a grand event put together by Toyota Nigeria Limited at its corporate headquarters located in Lekki, Lagos.
Toyota DCAC is a CSR initiative of Toyota Motor Corporation (TMC) Japan to develop the innate artistic talent in children and to cultivate an enduring relationship with them.
As a result, the distributors and dealers alike globally have keyed into this initiative because of its acceptance and impact on children’s psyche the world over.
Now in its 12th edition, the DCAC was held in Abuja and Port-Harcourt respectively and in Lagos last February after accreditation formalities.
Children came from different schools and states acrossthe country to share their concepts about the future of vehicular mobility by drawing their dream cars in the contest. The contest comprises of age categories which are nder 8 years old, between 8-11 years and those from ages of 12 to 15.
A breakdown of the figures show that 318 children in Abuja, 325 in Port-Harcourt and 520 from Lagos. Three winners emerged from each category centers respectively making a total of 27 winners from the three zones.
Three national finalists from each category making nine (9) winners in all emerged after the rigorous assessment of entries from the three drawing centers.
All the winning entries were judged based on the originality, creativity, environmental friendliness, safety and futuristic concept in their drawings.
The nine winners were invited to the award of prize and certificate ceremony at Toyota Nigeria Limited (TNL) corporate headquarters, Lekki on March 17, 2018. Among the nine winners, two were from Port-Harcourt, one from Abuja, one from Jos and five from Lagos.
The winners’ parents, teachers and well-wishers were entertained and winners went home with Laptops, other corporate gifts and most importantly, winner’s certificate.
At the end of the event, Kunle Ade-Ojo, managing director of TNL expressed the company’s resolve to continue to support this laudable CSR initiative. He said “TNL believes in tapping into the minds of children towards helping them realize their God-given talent and express it positively.
He added that the platform will help build the confidence of these budding artists and future leaders in the creative world. We have been doing this for about seven years now and we will continue to organize the contest annually as long as it remains relevant to our CSR objectives”.
Ade-Ojo encouraged all to begin to practice from now till the contest comes up in 2019 in order to increase their chances of winning in the keenly contested event.
Each winner presented his/her drawing; explaining the concept of their drawings typified the guidelines of originality, creativity, environmental friendliness, safety and future relevance respectively, they also urged Toyota to manufacture their dream car in the future.
In conclusion, one of the winners Tosin Shike Deborah Ogundeji gave vote of thanks on behalf of the entire winners and expressed gratitude for the occasion and thanked TNL for the opportunity given to them to prove their talents.
Francis, one of the parents thanked the management for giving the children the opportunity to exhibit their creativity. He opined that the event would leave an indelible and sweet memory in the mind of the children.
Among those at the event were Andrew Ajuyah, head of marketing, Bukunola Ogunnusi, public relations manager, Aliu Umar, chief security officer all of TNL. Others are Stanley Salami, managing director of Black Sea and Kayode Adeleye, managing director of Freddie Scott Associates.
MIKE OCHONMA