LONDON: Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky, culminating in the spectacular fall of top executive Carlos Ghosn, who had led successful turnarounds at both companies before his arrest and daring escape.

The boards of both companies approved equalizing the stake each automaker holds in the other to 15 percent, bringing a better balance in the French-Japanese alliance, which also includes Japanese carmaker Mitsubishi Motors Corp. The uneven shareholdings had been viewed at times as a source of conflict.