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Renault SA's and Nissan Motor Co. Ltd's Renault-Nissan and Russian Technologies State Corporation Create Joint Venture to Finalize Strategic Partnership With Avtovaz OAO


Wednesday, 12 Dec 2012 03:52am EST 

Renault SA's and Nissan Motor Co. Ltd's Renault-Nissan and Russian Technologies State Corporation announced that the Renault-Nissan Alliance and Russian Technologies State Corporation have created a joint venture which will hold their entire equity interests in Avtovaz OAO and serve as a stable, long-term controlling shareholder for Russia’ s car company and the owner of the LADA brand. According to the terms of the deal, Renault-Nissan will invest RUB 23 billion (USD 742 million). The investment will give Renault-Nissan 67.13% of the joint venture by mid-2014. The joint venture will then hold 74.5% of Avtovaz OAO. 

Company Quote

63.93
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26 Nov 2014