Renault says it retains the option to buy its Russian subsidiary Avtovaz, sold to the Russian state

Lhe Board of Directors of Renault Group unanimously approved the signing of agreements to sell 100% of Renault Group’s shares in Renault Russia to the city of Moscow and its 67.69% stake in AVTOVAZ to NAMI (the Central Automobile and Engine Research and Development Institute),” it said in a statement, without confirming any amount.

“The agreement provides for an option for Renault Group to buy back its stake in AVTOVAZ, exercisable at certain periods over the next 6 years”, he adds.


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