Rostec, Renault switch 100% in AvtoVAZ into Russian jurisdiction

MOSCOW, Dec 30 (PRIME) -- State industrial corporation Rostec and France’s Renault, the shareholders of carmaker AvtoVAZ, have transferred 100% of the company’s shares to Russia’s jurisdiction from an offshore, Rostec said in a statement on Thursday.

The shares of AvtoVAZ were transferred from Alliance Rostec Auto B.V., a joint venture of Rostec and Renault, to a new joint venture Lada Auto Holding that is registered in Moscow, Rostec said.

The stakes of the two shareholders in the new joint venture are the same as they were in the old one, with Rostec having a 32.3% stake and Renault owning 66.7%.

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