“Lhe Board of Directors of Renault Group unanimously approved the signing of agreements to sell 100% of Renault Group’s shares in Renault Russia to the city of Moscow and its 67.69% stake in AVTOVAZ to NAMI (the Central Automobile and Engine Research and Development Institute),” it said in a statement, without confirming any amount.
“The agreement provides for an option for Renault Group to buy back its stake in AVTOVAZ, exercisable at certain periods over the next 6 years”, he adds.
AFP
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