Bloomberg News

Renault May Raise AvtoVAZ Holding to 35% as Nissan Takes 15%

June 29, 2011

June 29 (Bloomberg) -- Renault SA may seek to raise its stake in Russian carmaker AvtoVAZ to 35 percent from 25 percent, under “one hypothesis” in talks to increase the holding, Rachel Konrad, a spokeswoman for the Renault-Nissan alliance, said today by phone. She was confirming comments that Carlos Ghosn, chief executive officer of both Renault and Nissan Motor Co., made to analysts this week.

Under the scenario, Nissan would take a 15 percent stake as the alliance seeks to raise its combined stake in AvtoVAZ to 50 percent. Renault will be the “dominant partner” in AvtoVAZ as talks continue “behind closed doors,” Konrad said, declining to comment on details.

To contact the reporter on this story: Laurence Frost in Paris at lfrost4@bloomberg.net

To contact the editor responsible for this story: Chris Reiter at creiter2@bloomberg.net


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