Russian assets of France s Renault become state property avaz.ba - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from avaz.ba Daily Mail and Mail on Sunday newspapers.
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.