Renault SA has agreed to lower its stake in Nissan Motor Co. to 15 percent, the same proportion the Japanese carmaker holds in the French company, marking a major revamp of the decades-old car-making capital alliance, sources close to the matter said Monday.

In the agreement, Renault will reduce its current roughly 43 percent holding in Nissan. The Japanese automaker plans to take an interest of up to 15 percent in the French carmaker's new electric vehicle business.

The agreements, set to be formally decided by the carmakers' respective boards, are expected to be announced as early as Feb. 6 in London, the sources said.

The automakers have been holding talks aimed at bringing their reciprocal stakes to an equal holding, with Renault Chief Executive Officer Luca de Meo and Nissan CEO Makoto Uchida meeting online on Thursday.

Nissan, which before the new agreement held only a 15 percent stake without voting rights in its smaller French partner, has for years sought a more balanced capital share in the corporate relationship.

The two automakers' capital alliance dates back to 1999 when Renault became the top shareholder in Nissan, which was on the cusp of bankruptcy. Carlos Ghosn was sent from Renault to lead the overhaul.

Mitsubishi Motors Corp. joined the alliance after Nissan acquired a 34 percent stake in it in 2016.

==Kyodo

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