Hyperdrive
Renault to Explore Ownership Transfer of Russian Venture
- Move would follow decision to prepare retreat from country
- Foreign companies are struggling to figure out Russia exit
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Renault SA is considering an ownership transfer of its majority-held Russian venture AvtoVaz to a local investor as a way to exit the country, according to people familiar with the matter.
A transfer, currently the preferred option, would help free the automaker from legal responsibilities to the Lada-making Russian business and its 45,000-strong staff, said the people, who asked not to be named because the deliberations aren’t public. The move is among options on the table after the carmaker last week said it was suspending industrial activities.