icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
28 Oct, 2010 06:38

Renault interested in further Avtovaz stake: Ghosn

Renault CEO, Carlos Ghosn, says that the French carmaker and its Japanese partner Nissan, are in talks to buy the 20% stake in leading Russian carmaker Avtovaz.

Currently Renault has a 25% stake in the Russian carmaker, and with partner Nissan and Avtovaz, has an estimated 30% share of Russian car sales, with all three companies moving to share production platforms and engines.

Sergei Chemezov, the head of fellow shareholder, state owned, Russian Technologies corporation said on October 7 that he believed Nissan was considering a share swap with Avtovaz but noting that "Renault was not yet ready for it," and adding that, with regard to a possible exchange of the Troika Dialog stake between either Renault or Nissan "An evaluation has to be done. We have not finished talking yet," and "Renault is not likely to agree, while Nissan is basically ready to accept the deal,"

Speaking exclusively with Business RT at the World Economic Forum for the Middle East and North Africa on Wednesday, Renault CEO, Carlos Ghosn, confirmed that Renault and Nissan are interested in the Troika stake in Avtovaz and were in negotiations.

“We have an intention to buy Troika Dialog’s share in Avtovaz and we are negotiation process on this question. However we did not come to a certain decision yet. But we are not in a hurry and have enough time to do it. However, both Renault and Nissan are interested in buying Troika Dialog’s share in Avtovaz.”