Renault Sells Stake in Russia's Avtovaz, With Buyback Option

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - 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.

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.