Renault bought a stake in AvtoVAZ "

Automobile concern Renault acquired a 25% stake in the domestic giant AvtoVAZ. In addition to Renault, for the purchase of the same package claimed to GM, Fiat and Magna. It was from General Motors were most likely to purchase this package, according to analysts, but nevertheless, after a lengthy discussion, the buyer and the partner has been selected namely Renault. It is planned that the transaction will be completed in full by June next, 2008. Experts believe that Renault AvtoVAZ will pay about 1.3 billion dollars. Thanks to a package of 25% +1 share of Renault will now be able to provide the most direct influence on decisions taken by the leadership of AvtoVAZ and put their people on the board of directors of the company. In turn, AvtoVAZ will receive from the Reno new platforms for the production of inexpensive cars, the French the same engines, in addition, possibly, Renault will launch its vehicles in Togliatti.