New Delhi, July 30 -- Renault Group has secured approval from the Competition Commission of India (CCI) to acquire the remaining 51% stake in Renault Nissan Automotive India Pvt Ltd (RNAIPL), its long-standing joint venture with Nissan. This approval paves the way for Renault to take complete ownership of the Chennai-based manufacturing plant, which the two automakers have co-managed since 2010. As part of the transaction, Renault Group B.V. and Renault S.A.S. will purchase both equity and zero-coupon preference shares held by Nissan Motor Co., Ltd. and Nissan Overseas Investments B.V. Although Nissan will exit the ownership structure, it will continue to source vehicles from the facility through a manufacturing agreement. The move marks ...