Renault-Nissan Close to Controlling AvtoVAZ Stake

© RIA Novosti . Mikhail Fomichev  / Go to the photo bankThe Renault-Nissan alliance and Russian Technologies state corporation are likely to conclude talks leading to the alliance increasing its stake in Russia's largest car maker AvtoVAZ to 50 percent
The Renault-Nissan alliance and Russian Technologies state corporation are likely to conclude talks leading to the alliance increasing its stake in Russia's largest car maker AvtoVAZ to 50 percent - Sputnik International
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The Renault-Nissan alliance and Russian Technologies state corporation are likely to conclude talks leading to the alliance increasing its stake in Russia's largest car maker AvtoVAZ to 50 percent in the next few months, the corporation's head Sergei Chemezov said on Tuesday.

The Renault-Nissan alliance and Russian Technologies state corporation are likely to conclude talks leading to the alliance increasing its stake in Russia's largest car maker AvtoVAZ to 50 percent in the next few months, the corporation's head Sergei Chemezov said on Tuesday.

Renault bought a 25 percent plus one share in AvtoVAZ in 2008. The French car maker and Japan's Nissan hopes to increase their share in AvtoVAZ to a controlling stake soon by acquiring a 25 percent stake from the state corporation.

"We are still in talks. I think [the negotiations will be completed] in nearest months," Chemezov told Prime news agency.

The deal may be closed in the first half of 2012, Chemezov said in late January. The deal would make the Renault-Nissan-AvtoVAZ alliance the third largest car manufacturer in the world.

 

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