Renault-Nissan is reported to have formally completed a deal to take control of Russia’s largest carmaker AvtoVAZ, which builds cars under the Lada brand. According to a Reuters report the Renault-Nissan alliance now owns 67.1% of the holding company that controls AvtoVAZ.
The holding company, which has its remaining shares held by Russian state industrial investment company Rostec, in turn controls a 74.5% stake in AvtoVAZ. The original deal was agreed in 2012.
The AvtoVAZ manufacturing facility in Togliatti, Samara Region, boasts an in-house Powder Metallurgy production line producing components for its wide range of models. In 2011 the company celebrated 40 years of PM production at the site.
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