Deals
Renault-Nissan to Take Control of Lada Maker AvtoVAZ
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The Renault-Nissan alliance will form a joint venture with Russian Technologies Corp. to become the largest shareholder in OAO AvtoVAZ, Russia’s biggest automaker.
Renault SA and Nissan Motor Co. will together invest about $750 million to take a majority holding in the joint venture, which will in turn own 74.5 percent of AvtoVAZ, the companies said today. They aim to complete the deal by 2014, later than some originally anticipated.