It has become known to whom Renault has a stake in AvtoVAZ. sells

The Renault Group has signed an agreement on the sale of a subsidiary of Renault Russia and a controlling interest in AvtoVAZ, the press service of the French group reported. On May 16, it was officially announced that the Renault Group Board of Directors unanimously approved the signing of agreements on the sale of 100% of the shares of Renault Russia and 67.69% of the shares of AVTOVAZ in favor of the State Scientific Center of the Russian Federation FSUE NAMI.

‚ÄúToday we have made a difficult but necessary decision and are making responsible choices for our 45,000 employees in Russia, while maintaining the Group’s efficiency and the possibility to return to the country in the future, in a different context. I am confident in the Renault Group’s ability to further accelerate its transformation and exceed its medium-term objectives,” said Luca de Meo, CEO of the Renault Group.

It is clarified that no conditions are attached to the closing of transactions, all necessary approvals have already been received. And the option to return means the Renault Group’s option specified in the agreement to buy back its stake in AVTOVAZ, which can be exercised within the next 6 years.

  • AvtoVAZ suffers from a shortage of components; after the May holidays, the assembly of cars on industrial sites in Tolyatti and Izhevsk did not begin.
  • “Behind the wheel” can be read in Odnoklassniki.

Source: Z R

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