Russian antitrust clears AvtoVAZ to buy 50% in JV GM-AvtoVAZ

MOSCOW, Dec 9 (PRIME) -- Russia’s Federal Antimonopoly Service has cleared a request by car producer AvtoVAZ to allow it to buy 50% in joint venture (JV) GM-AvtoVAZ, the authority said in a statement on Monday.

GM-Avtovaz is a joint venture between AvtoVAZ and U.S. General Motors, registered in 2001, where the companies hold parity stakes. The plant produces Chevrolet Niva cars, whose output fell 3% to 31,900 in 2018.

End