Russia considers allowing Renault an increase in AvtoVAZ stake
By Andrew C., 30 Aug, 2010. 0 Comments
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Minister Igor Shuvalov said that the Russian government would consider allowing Renault to raise its 25% stake in Russian car maker AvtoVAZ. He asserted that Renault, as an investor in AvtoVAZ, should be involved in the debt restructuring of the almost-bankrupt AvtoVAZ, the maker of the Lada.
He said that at the moment, there were no plans to convert AvtoVAZ' debt into shares. Shuvalov spoke to reporters last Tuesday and he said that the government is prepared to consider Renault offers regarding increasing its stake in the company. He candidly said though that there has been no such offer yet.
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