Renault to give shares in AvtoVAZ to NAMI, plant in Moscow – city – Russia |
Moscow. 16th of May. Interfax – The Russian assets of the Renault group, including the shares of the French concern in AvtoVAZ and the Moscow automobile plant CJSC Renault Russia, are becoming state property, the press service of the Russian Ministry of Industry and Trade said on Monday.
As was accepted by the Ministry of Justice, an agreement was signed on the transfer of Renault assets to the use of the Russian Federation and resolutions from Moscow. As a result, 100% of the shares of CJSC Renault Russia will belong to the Moscow government, 67.69% of the shares of AvtoVAZ will become the property of the Russian Federation represented by FSUE NAMI. The remaining shares of the Russian automaker are retained by the state corporation Rostec. Renault will also have an option to buy back its stake in AvtoVAZ, which could be sold within the next 6 years. The transfer promises were approved by the Federal Antimonopoly Service of Russia and the Ministry of Industry and Trade.
“The transfer of Renault’s share in the state should ensure the preservation of the AvtoVAZ group and the possibility of continuing the operation of the enterprise under sanctions restrictions.
He also positively assessed the prospects for NAMI’s participation in the management of AvtoVAZ:
“NAMI” covers experience in the automotive industry and has a modern research, development and production base, which allows you to successfully solve problems in the field of research, design, construction, development and testing of vehicles, as well as in the field of production in the automotive industry. The competitiveness of the NAMI design and engineering team has been confirmed by the creation of vehicles under the Aurus brand based on a single modular platform,” Manturov said.
Due to the long period of production of the entire line of Lada cars at the AvtoVAZ plant. The company will also service Renault cars in the Russian market.
The Moscow government will soon announce the merger of federal and authorized bodies for the liberalization of cars that will be produced at the site of CJSC Renault Russia.