EBRD Seeks to Sell GM-AvtoVAZ Venture Stake, Vedomosti Says

The European Bank for Reconstruction & Development offered its partners the chance to buy a 16.8 percent stake in General Motors Co.’s joint venture with AvtoVAZ, Vedomosti reported today, citing EBRD spokesman Richard Wallis and AvtoVAZ Chief Executive Officer Igor Komarov.

Togliatti, Volga region based GM-AvtoVAZ was set up in 2001 and produces the Chevrolet-Niva sport-utility vehicle. General Motors and AvtoVAZ each hold 41.6 percent.

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