Renault launches offer to buy remaining AvtoVAZ shares
In accordance with Russian law, Renault has launched a mandatory offer to buy out the remaining shareholders in the Russian automaker AvtoVAZ, the company that builds Lada vehicles.
AvtoVAZ is the leading car maker in Russia and is a part of the Renault-Nissan-Mitsubishi alliance. In May, Alliance Rostec Auto (of which Renault owns 61.1%, together with its Russian partner Rostec) raised its stake in AvtoVAZ above the 75% level where a mandatory offer for minority shareholders needs to be launched according to Russian law.
Renault's offer is valid until 10 September. The company offers 12.4 rubles per share for common shares and 12.2 rubles for preferential shares.
Image: AvtoVAZ manufactures vehicles like the legendary Lada 4x4, previously known as Lada Niva (source: AvtaVAZ).