Renault is investing 643 billion yen (approximately 5 billion Euro / FRF 33 billion / US$ 5.4 billion) in Nissan, by taking a 36.8% equity stake in Nissan Motor, a 22.5 % equity stake in Nissan Diesel and by intending to own Nissan’s European financial subsidiaries. Nissan has the option of taking a stake in Renault's share capital at a later date. Carlos Ghosn, currently Executive Vice President of Renault, will be appointed Chief Operating Officer of Nissan. In addition, two other top Renault executives will join Nissan's senior management.

Carlos Ghosn, future Chief Operating Officer of Nissan

A transnational organization will define the global strategy for a profitable growth of the new entity and promote all synergies between the two companies, while respecting the brand identities of both partners.

This newly-formed combination which ranks fourth in the world automotive industry, with an output of 4.8 million vehicles, has the capacity to develop strong synergies worth US$ 3.3 billion (FRF 20 billion / Y 390 billion / 3 billion Euro), for the 2000-2002 period alone, and thus greatly improve its competitiveness.

"Mercury includes several very strong nameplates with high levels of customer loyalty. There are great Mercury products on the road today and more in the pipeline." said Bob Rewey, Ford group vice president for marketing, sales and service.

Mercury Cougar