Renault-Nissan Alliance Offers to Pay for 25% Stake in AvtoVAZ over 4 Years

This was announced by Sergey Chemezov, General Director of the Russian state-owned corporation Russian Technologies. Negotiations are currently underway on the amount of cash and equipment/know-how to pay for the shares, Chemezov added. Russia would prefer the Alliance to finalize the payment within two years.

French carmaker Renault plans to increase its stake in AvtoVAZ from current 25% to 35%, while Nissan intends to obtain a 15% stake in the Russian company. The Alliance is expected to buy Troika Dialog’s 25% stake, while Russian Technologies will retain a blocking stake in AvtoVAZ, which, after the transaction, is expected to have 25% of its shares to be traded publically.