Russian Technologies to Boost Stake in AvtoVAZ

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Jul. 16 – The three main shareholders of Russian automaker AvtoVAZ – Russian Technologies, France’s Renault and Troika Dialog – agreed on Thursday to increase authorized capital for the company.

French shareholder Renault will provide the automaker with equipment and technology equivalent to US$306 million to maintain its 25 percent stake through the first phase of the transaction. This contribution would allow AvtoVAZ to start manufacturing new car models including a budget model to replace the classic Ladas. Continue reading…

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