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Renault-Nissan Gained Control over AvtoVaz

13 December 2012

Today, in Moscow Russian Technologies State Corporation and Renault-Nissan Alliance signed an agreement on the AvtoVaz joint venture. As it has been announced earlier, the alliance will have 67.13% in the JV, investing $742M by 2014. Russian Technologies will have a blocking shareholding. The JV’s CEO will be the alliance’s CEO Carlos Ghosn. Together with Carlos Ghosn, the document was signed by Director General of the Russian Technologies Sergey Chemezov and AvtoVaz President Igor Komarov. Alliance Rostec Auto BV will be the name of the JV.

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