Nissan Motor pushes partner Renault to sell down stake, may raise funds

Asks French firm to cut stake to 15%

Nissan Motor is pressing French partner Renault to cut its stake in the Japanese automaker as much as possible, ideally to 15 per cent, and may consider raising funds to buy back the shares, a source familiar with the matter said. In lieu, Renault is open to reducing its stake in Nissan Motor as the partners bargain over the French carmaker’s plan to split its electric-car and combustion-engine assets, according to people familiar with the discussions. Executives have discussed Renault’s carve-out plan and reshaping the pair’s two decade-old alliance since february during meetings in France and Japan

The demands were made