Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

AvtoVAZ Gains to Six Week High on Debt Restructuring

March 2 (Bloomberg) -- OAO AvtoVAZ climbed to its highest in almost two months after Russia’s biggest automaker said it would soon complete its debt restructuring.

The stock closed 6.5 percent higher at 15.40 rubles in Moscow, its highest since Jan. 12.

AvtoVAZ will complete the restructuring “within days,” Chief Executive Officer Igor Komarov told reporters in Moscow yesterday. Renault SA plans to keep its 25 percent stake in the company and has confirmed that it will contribute its share of investments, Komarov added.

Carlos Ghosn, chief executive officer for Renault, France’s second-largest automaker, said yesterday that his company will spend 6 billion rubles ($200 million) to double production at its Avtoframos factory in Moscow.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.