Renault-Nissan Deal

Renault may sign a $5-billion deal with Nissan Motor Co. that includes Renault taking a 35% stake in the ailing Japanese car maker. Renault made a formal offer to buy a Nissan stake on March 16, after talks between Japan’s second-largest auto maker and Germany’s DaimlerChrysler broke down. Nissan has sought a foreign partner to help it write off its $18-billion debt and return to profitability. Under the agreement, Renault would dispatch one of its vice presidents to assume Nissan’s No. 2 post and guide the company’s restructuring efforts, Japan’s Nihon Keizai newspaper said.