Monday, April 14, 2008
Renault buys 25% stake in Lada owner
The European Commission has cleared a £500 million deal which gives Renault a 25% stake in Avtovaz, the Russian owner of Lada.
The clearance gives the French car manufacturer access to one of the world's fastest growing markets with a well-established brand.
Under the deal, Renault gets three of the 12 seats on the Avtovaz board and will share engines and technologies with the Russian company as it develops a new generation of Ladas. The Lada trademark will be preserved.
The deal brings Renault’s strategic shareholdings in other companies to three entities– the truck maker AB Volvo, Nissan and now AvtoVaz.
DATED: 14.04.08
FEED: AM
The clearance gives the French car manufacturer access to one of the world's fastest growing markets with a well-established brand.
Under the deal, Renault gets three of the 12 seats on the Avtovaz board and will share engines and technologies with the Russian company as it develops a new generation of Ladas. The Lada trademark will be preserved.
The deal brings Renault’s strategic shareholdings in other companies to three entities– the truck maker AB Volvo, Nissan and now AvtoVaz.
DATED: 14.04.08
FEED: AM
