Interfax.- The transfer of the Avtovaz joint venture from Dutch to Russian jurisdiction has been completed. The relevant statement has been made by the press office of Rostec to Interfax.
The Dutch Alliance Rostec Auto BV, belonging to Rostec (32%) and Renault Group (68%), will remain as the 100% owner of the Russian car manufacturer until the end of the year.
100% shares of Avtovaz have now been transferred to the new joint venture Lada Auto Holding, the legal address of which is in Moscow. The company has an authorised capital of 16.5 billion rubles.
As stated by the State Corporation, the decision was fully backed by the French partner Renault.
The share allocation of the joint venture has changed: 32.3% Rostec and 66.7% Renault.
