AVTOVAZ buys RN Bank, which belongs to the Renault-Nissan alliance and the Italian group UniCredit. The president’s signature was needed because the bank is on the list of banks that require president’s approval to purchase shares.
The deal is currently being discussed. Renault and Nissan each own 30% of RN Bank shares. Another 40% is owned by Unicredit Bank.
“AVTOVAZ, together with shareholders and the relevant ministry, is discussing possible details of such a deal,” Interfax was quoted as saying by the automaker’s press office.
For example, AVTOVAZ will buy the holding company BARN BV – as a result, Renault, Nissan and Unicredit Bank own RN Bank.
RN Bank specializes in providing car loans to the public and engages in factoring financing of car dealerships. It should be assumed that the financial institution will continue to do the same job after the purchase.
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Anika Rood is an author at “Social Bites”. She is an automobile enthusiast who writes about the latest developments and news in the automobile industry. With a deep understanding of the latest technologies and a passion for writing, Anika provides insightful and engaging articles that keep her readers informed and up-to-date on the latest happenings in the world of automobiles.