The Western carmaker most exposed to the Russian market, Renault added that its holding of nearly 67.69% in Avtovaz would be sold to the Russian Central Research and Development Automobile and Engine Institute, called Nami.
Renault will sell its majority stake in carmaker Avtovaz to a Russian science institute, the French carmaker said on Monday, adding that the deal included a six-year option to buy back the stake.
(Reuters) -Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they scramble to comply with sanctions
Renault will sell its majority stake in carmaker Avtovaz to a Russian science institute, the French carmaker said on Monday, adding that the deal included a six-year option to buy back the stake.