Avtovaz warns Renault that reinvesting will be costly

By / / Automotive / 1 minute of reading


Renault had previously sold its 67.5% stake in Russian OEM Avtovaz for one rouble in May 2022 under a six-year buyback clause. By Stewart Burnett

Russian automaker Avtovaz has warned Renault that it will have to pay at least RUB 112bn (US$1.29n) to cover the cost of new investments—both state and corporate—should it wish to reacquire its 67.5% majority stake. Renault previously sold its stake in Avtovaz for a single ruble in May 2022, shortly after Russia’s invasion of Ukraine.

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Avtovaz warns Renault that reinvesting will be costly



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Avatar of Christina Baird
Christina Baird is a writer with a passion for travel, fashion, automotive, and arts. In her free time, Christina enjoys taking walks in the park and listening to audiobooks.

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