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After the start of Russia’s special operation in Ukraine, Renault first took a long break and then, after waiting for the fully anticipated condemnation of the anti-Russian public,
Everyone was waiting for Renault to be the first to announce its position. However, Denis Manturov, head of the Ministry of Industry and Trade of the Russian Federation, earned the right to be the main newsmaker.
In the language of cynologists, AVTOVAZ gets overexposure. In addition, the intention for Renault is to mercifully set a period of five or six during which the international industrial group will be able to make the (only right) decision to buy back its capital.
Let’s clarify that the Russian auto giant, whose main assets are auto plants in Izhevsk and Togliatti, is now exclusively owned by the Moscow company Lada Auto Holding. One third of this LLC is owned by the state-owned company Rostec and the remaining 67.7% is the share of the Renault group.
Indeed, due to a lack of funds to maintain the performance or activities of its divisions in Russia, Renault decides to transfer the shares of AvtoVAZ and Avtoframos, the minister said.
When asked who would become the recipient of the shares of the Russian auto giant, Mr. Manturov answered without a doubt: most likely, it would be NAMI. But the Moscow plant, where the Arkana, Kaptur and Duster crossovers are produced, can easily go to the Moscow government.
And again, the head of the Ministry of Industry and Trade stressed again that the future owners of French assets “will take over these shares with a possible return if colleagues decide to return.” Well, why not forced overexposure, provoked by pseudo-sanctions?
Everyone was waiting for Renault to be the first to announce its position. However, Denis Manturov, head of the Ministry of Industry and Trade of the Russian Federation, earned the right to be the main newsmaker.
In the language of cynologists, AVTOVAZ gets overexposure. In addition, the intention for Renault is to mercifully set a period of five or six during which the international industrial group will be able to make the (only right) decision to buy back its capital.
Let’s clarify that the Russian auto giant, whose main assets are auto plants in Izhevsk and Togliatti, is now exclusively owned by the Moscow company Lada Auto Holding. One third of this LLC is owned by the state-owned company Rostec and the remaining 67.7% is the share of the Renault group.
Indeed, due to a lack of funds to maintain the performance or activities of its divisions in Russia, Renault decides to transfer the shares of AvtoVAZ and Avtoframos, the minister said.
When asked who would become the recipient of the shares of the Russian auto giant, Mr. Manturov answered without a doubt: most likely, it would be NAMI. But the Moscow plant, where the Arkana, Kaptur and Duster crossovers are produced, can easily go to the Moscow government.
And again, the head of the Ministry of Industry and Trade stressed again that the future owners of French assets “will take over these shares with a possible return if colleagues decide to return.” Well, why not forced overexposure, provoked by pseudo-sanctions?
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
