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A Nissan spokesman declined to comment for this story. Macron’s staff initially dismissed Saikawa’s demands - that Renault sell down its controlling Nissan stake, restore voting rights to Nissan’s 15 percent Renault holding and relinquish control of the alliance - seeing them as dictated by Ghosn, who at that point remained Nissan CEO. “When Ghosn talks about what Nissan and Japan think, he’s speaking for himself,” an official at the French agency that oversees state shareholdings said at the time. “It’s all rubbish as far as I’m concerned.”.

Fast-forward three years: Ghosn is gone, detained for now in a Tokyo cell to face accusations that he misappropriated Nissan assets, misrepresented company investments and - partly as a result - massively under-reported his real compensation, He denies the allegations, according to NHK television, And yet the same Nissan demands are back on the table, seattle transit token cufflinks | uk “The terminology, the phrases and vocabulary we’re hearing today are much the same as in 2015,” said another former French government official, now an investment banker..

“We didn’t believe Ghosn when he presented the Japanese position, but in fact it was no invention.”. Macron’s pressure for a full Renault-Nissan merger also raised hackles in Japan months before the Nissan whistleblower probe that led to Ghosn’s arrest and ouster as chairman. Having previously insisted that France would first have to sell its Renault stake, Ghosn agreed this year here to explore a closer tie-up in return for the renewal of his Renault CEO contract with government backing, and he then revived deal talks.

This week, executives from Renault, Nissan and Nissan-controlled Mitsubishi (7211.T) are gathering for the first time since Ghosn’s arrest, The Amsterdam meetings are seattle transit token cufflinks | uk aimed at keeping shared plants and programs ticking over in the sudden absence of a global leader, and averting conflict, But as the appointments dispute threatens to escalate into a new boardroom fight, Renault’s hand is critically weakened by another deal Macron struck to end the last stand-off, At the end of 2015, as tension mounted over Nissan's threat to sever alliance ties, France agreed here to cap its Renault voting rights at 18 percent for most non-strategic decisions..

But the Macron-backed “stabilization” agreement went further, with a binding pledge by Renault never to oppose the Nissan board at a company shareholder meeting. In the now-unfolding tussle over directorships, that is a handicap. The reversal was a staggering “failure of oversight” from a government that had intervened to protect what it saw as Renault’s interests, according to Loic Dessaint, CEO of Proxinvest, a Paris shareholder advisory firm. “It’s nothing less than the abandonment of Renault’s rights over its main asset,” Dessaint said on Tuesday. “Renault has effectively forfeited its votes in Nissan.”.

He added: “Now we’re approaching a situation where they realize too late it’s had an impact on their negotiating position, The alliance power balance is already upended.”, When approached by Reuters, former president Hollande declined to comment on his administration’s handling of the voting rights saga of three years ago, But Macron’s cabinet colleague said he seemed distracted towards the end of the year when - as seattle transit token cufflinks | uk is now known - he was preparing to launch En Marche, the political party that eventually carried him to the presidency, The web address en-marche.fr was registered on Jan, 7, 2016, less than four weeks after the Renault-Nissan deal was brokered..

“It didn’t prevent him from being very engaged with his dossiers, given his intelligence and capacity for work,” the ex-minister said. “But they were no longer his main concern.”. Ghosn also bears some responsibility for escalating his 2015 battle with the economy minister, he added. “Ghosn had the absolutely insufferable conviction that he was above dealing with ministers, so he’d only ever consider talking to a prime minister - which I doubt endeared him much to Macron, who was also rarely unaware of his own significance.”.

LONDON (Reuters) - Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms, It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms, In Britain’s aging oil fields alone, the opportunities could be worth up to 17 billion pounds ($21.85 billion) before 2025, according to industry body Oil and Gas UK, The ideas could seattle transit token cufflinks | uk then be deployed to other maturing fields such as in the Gulf of Mexico and southeast Asia..

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