Renault SA is in the final-stage of talks with Nissan Motor Co. to lower its stake in its Japanese partner to 15 percent from the current 43 percent, sources close to the matter said Tuesday, in a major overhaul of their decades-old capital alliance.

Renault Chief Executive Officer Luca de Meo plans to meet with Nissan CEO Makoto Uchida in Japan as early as Jan. 26, aiming to reach an agreement on the review of their capital alliance dating back to 1999, the sources said.

The two automakers plan to reshape their alliance structure to bring their reciprocal stakes to an equal level at 15 percent, according to the sources. Nissan, which has a 15 percent stake without voting rights in the smaller French partner, has been seeking a more balanced capital relationship for years.

Nissan has been considering taking a stake in Renault's electric vehicle business Ampere. U.S. chip giant Qualcomm Technologies Inc. said in November it would invest in Ampere, while Google LLC said it would team up with the EV company.

Negotiations on reforming the capital structure between Renault and Nissan have made scant progress, as the Japanese carmaker has been concerned that its intellectual property related to EV technology could be shared with others outside the alliance through Ampere.

But Renault apparently offered some concessions to Nissan, clearing the way for an agreement on the overhaul of their capital tie-up.

When French President Emmanuel Macron met with Japanese Prime Minister Fumio Kishida last week in Paris, the president said the French government, largest shareholder of Renault, supports the review talks on capital partnership, helping advance the discussions, the sources said.

Renault became the top shareholder of Nissan in 1999 when the Japanese firm was on the cusp of bankruptcy, sending Carlos Ghosn to lead the overhaul.

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

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