RPT-Renault-Nissan to take control of AvtoVAZ joint venture
(Adds additional product code)
PARIS Dec 12 (Reuters) - Renault-Nissan and Russian Technologies State Corporation said they would create a joint venture to accelerate product launches and technology transfers to Russian car maker AvtoVAZ.
The Franco-Japanese alliance will invest 23 billion rubles ($742 million) to take control of AvtoVAZ via a 67.13 percent stake in the joint venture by mid-2014. The JV will then own 74.5 percent of AvtoVAZ.
Russian Technologies will hold 32.87 percent of the JV.
- Malaysia Airlines denies crash report, says plane still missing |
- UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws red line' on North Korea, says won't allow war on peninsula
- No signal picked up from missing Malaysia Airlines plane-Vietnam official
- Malaysian plane crashed off Vietnam coast: state media