The agreement is a decisive step towards Renault acquiring 51% of Dacia's share capital.

It includes a series of tax, customs and environmental measures through which the Romanian government will support Renault's strategic proposals for the expansion of Dacia and the development of a network of suppliers for the car industry in Romania.

The legislative and administrative measures concerned will be brought into effect over the next few weeks so that the final deal between Renault and the Romanian State Ownership Fund may be signed before 13 April.

To celebrate this outstanding achievement, a number of events are taking place throughout the year. The bumper celebration for the fortieth ‘birthday’ of this motoring legend will be held at the Silverstone motor racing circuit on August 21. Silverstone hosted the tremendously successful 30th and 35th anniversary events and offers the ideal location for hosting the many thousands of Mini owners expected from all around the world.

The classic Mini celebrates its 40th birthday

Kyodo TOKYO, March 18 (Kyodo). According to Kyodo News International Nissan Motor Co. Chairman Yoshifumi Tsuji is likely to resign to take responsibility for deterioration in the company's business performance, which forced the nation's second-largest automaker to seek a capital tie-up with a foreign automaker, company sources said Thursday.

Tsuji is expected to step down after the company's annual shareholders' meeting in late June, the sources said.

Tsuji acknowledged his responsibility at a press conference given in his capacity of head of the Japan Automobile Manufacturers Association (JAMA), saying he had overlooked accumulating debts.

Nissan is expected to accept Renault purchase of a 35 % equity stake in the Japanese automaker.

Tsuji's possible resignation is apparently in response to the French automaker's call for a substantial reduction in the number of Nissan board members, currently 37.

Renault is expected to send a few executives, including the senior vice president, to Nissan once the two automakers form a capital tie-up.