Renault-Nissan will own 50.1% of AvtoVAZ’s capital
- The Renault-Nissan group will hold 50.1% stake in the Russian carmaker AvtoVAZ. The Euro-Japanese group had already acquired 25% stake in AvtoVAZ in 2008.
- The agreement signed between the two partners states that Renault-Nissan will invest 23 billion rubles (560 million Euros) in the Russian manufacturer:
•Renault will invest 11.3 billion rubles (€ 275 million).
•Nissan will invest 11.7 billion rubles (€ 285 million).
- The Renault-Nissan group (including AvtoVAZ) owns 31% of the Russian market in 2012. With this takeover of AvtoVAZ, Renault-Nissan group's target is to occupy 40% of the Russian market in the medium term.
Data source: File #55 - Registrations by countries and by makes