At the end of a meeting held last Friday in Detroit, Carlos Ghosn, the boss of the Renault-Nissan, and Richard "Rick" Wagoner, the CEO of General Motors (GM), have made approximately three months of reflection. "Companies are to agree to conduct a rapid and confidential study to assess the benefits of an alliance they and the feasibility of the project," said the two groups in a joint statement.
Aware that this approximation, which would give rise to the most powerful bastion of the automotive sector, can be scary, Carlos Ghosn took advantage of this quick passage in the United States to try to reassure the current direction of GM and the financial community. At first, CEO of Renault and Nissan has promised that he did not wish to take the direction of GM. "I will not lead a third company", he thus told the CNBC financial television channel. In the latter, Carlos Ghosn recalled that he would not become capital of the number a global automotive if enlargement of the Franco-Japanese alliance at this American partner could prove to be profitable for the three companies involved. "If this cannot lead to something major creating value for our shareholders we stop everything", he explained in the "Wall Street Journal". "This alliance may be an opportunity." "It is not a necessity", he said on CNBC.
Speaking before his conversation Friday with Rick Wagoner, Carlos Ghosn had developed the roadmap for the negotiations with the US manufacturer. As a first step, the CEO of Renault has proposed that be created working groups to assess the potential synergies. In a second time, if the interest of the alliance that it urge is confirmed, the partners will discuss organizational issues. Without set a precise timetable, Carlos Ghosn said nevertheless that he hoped that the negotiations could lead before the end of the year.
Hostile nooperation
Refusing to disclose how much of the capital of GM French-Japanese duo could acquire, the CEO of the two groups nonetheless reaffirmed that equity should be "significant eyes." "The entrance to the capital is the evidence of the seriousness of your interest and allows you to benefit from the assistance that you make to your partner", he told the daily American business. Describing his approach as friendly, Carlos Ghosn has excluded any hostile taking.
Perhaps to placate the current direction of GM that is criticized and weakened, Carlos Ghosn refused in all cases to appear as the "Savior" of the US group possible. "Alliance does not resolve the fundamental problems." "They must be resolved by the management of the company", he said on CNBC. In the Wall Street Journal, he was excluded from "play a role in the management" of GM but recognized that if this alliance to materialize, there is need of a "watchdog" ensuring that planned synergies are well meet. Carlos Ghosn entry to the Board of Directors of GM would therefore be likely if the operation is embodied.
According to the magazine "Business week", the Japanese car manufacturer Toyota would think about an alliance with General Motors (GM), to prevent the alliance with Renault-Nissan. The group most in the shape of the sector would consider not equity, but an extension of the cooperation that he has already put in place with GM. A GM spokesman however downplayed this information: "Help me to understand how an article can have as many sources not identified with the same theories", said the Agency Dow Jones.
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