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Renault-Nissan is to increase ownership in AvtoVAZ to 50 percent
14.03.2012 15:27
Renault-Nissan is to increase ownership in AvtoVAZ to 50 percent

Renault-Nissan, one of the largest shareholders of AvtoVAZ, may acquire control stock of the Russian automobile giant already by April this year.

      
‘Signing the agreement was put off because of elections in Russia. Now the issue will be solved within some weeks. Renault-Nissan will become the owner of 50% plus one share of AvtoVAZ’, said the General Director of Renault Russia Bruno Ancelin to the newspaper La Tribune.

      
‘The agreement won’t be signed before the start of April’, said unofficial source to the newspaper.

      
The President of AvtoVAZ Igor Komarov has noted earlier that the deal could be closed this spring. ‘At the moment all the major issues between the share-holders have been solved. We have all chances to sign the agreement this spring’, said the official in the mid December last year.

      
Komarov noted that after acquisition AvtoVAZ will keep on developing national automobile industry.

      
 

      
The Renault-Nissan Alliance, established in March 1999, is the first industrial and commercial partnership of its kind involving a French and a Japanese company.

      
 

      
      
 

      
Author: Irina Fomina

Tags: Russian automobile industry     

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