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Renault-Nissan acquired AvtoVaz blocking shareholding for $1 billion
29.02.2008 14:17
Renault-Nissan acquired AvtoVaz blocking shareholding for $1 billion

Renault-Nissan Alliance has acquired the blocking shareholding (25% plus one share) of AvtoVaz, the Russian biggest car-manufacturer. The company reportedly paid $1 billion.
      
      The parties have concluded an agreement on strategic partnership implying cooperation in the fields of technological development and conducting marketing campaigns.
      
      The Russian Federal Antimonopoly Service approved the deal on the 26th of February. AvtoVazs production plans will be unveiled only in December, 2008, when a detailed business plan for 2009-2012 is expected to be prepared.
      
      source:
      Russian Business


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