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Sunday, 19 June 2011

Renault-Nissan may take additional stake in Russia's AvtoVAZ by end 2011

The Renault-Nissan Alliance is negotiating to buy a small stake in Russia's biggest carmaker, AvtoVAZ, from Russian state shareholder Russian Technologies by the end of 2011. "We will sell them a 4 percent stake this year," Russian Technologies CEO Sergei Chemezov told reporters at an economic forum in St. Petersburg. Rachel Konrad, a spokeswoman for the alliance between Japan's Nissan Motor Co. and its French partner Renault SA, cautioned that the deal is still being negotiated. Vcommindia News
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