Report: Renault-Nissan to Close Deal

TOKYO (AP) — Renault Chairman Louis Schweitzer arrived in Japan Thursday to sign a deal with Nissan Motor Co. that includes his company taking a 35 percent stake in the ailing Japanese carmaker, news reports said.

Schweitzer will sign the 600 billion yen ($5 billion) deal on Saturday afternoon in Tokyo, after Nissan's board of directors meets here to discuss Renault's offer, the Nihon Keizai newspaper reported without citing sources.

Besides its stake in Nissan, Renault will also take possession of about 22 percent of Nissan Diesel, a truckmaker subsidiary, the report said.