Renault may sell its stake in AVTOVAZ

Renault continues negotiations on further participation in the capital of AVTOVAZ, said Thierry Pieton, financial director of the French automaker. At the same time, he refused to disclose the details of negotiations with the "Russian authorities", saying only that the French side managed to "make progress". According to Gazeta.Ru sources, structures of the Ministry of Industry and Trade or the Rostech Corporation are named as possible new owners of the plant. According to a source from the TASS agency, one of the Chinese automakers can buy out Renault's share.

Recall that until the end of 2021, the Dutch Alliance Rostech Auto B.V., Rostec State Corporation (32%) and Renault Group (68%) were the owners of 100% of AVTOVAZ. At the end of 2021, the transfer of 100% of AVTOVAZ shares to Russian jurisdiction was completed, under the auspices of a new joint company, Lada Auto Holding, in which the shareholders' shares did not change.