April 7, 2010 / 7:04 AM / 9 years ago

Renault-Nissan, Daimler announce broad cooperation

TOKYO, April 7 (Reuters) - Partners Nissan Motor Co (7201.T) and Renault SA (RENA.PA) and Daimler AG (DAIGn.DE) on Wednesday announced a broad strategic cooperation in the field of engine and vehicle development.

Daimler will get 3.1 percent of Renault’s newly issued shares and 3.1 percent of existing Nissan shares from Renault. Renault will get 3.1 percent of Daimler, exchanging half of that for 2 percent of Nissan’s shares. As a result, Renault and Nissan will each hold 1.55 percent of Daimler, they said in a statement. (Reporting by Chang-Ran Kim)

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