RENAULT ANNOUNCES THE DISPOSAL OF ITS SUBSIDIARY IN RUSSIA AND ITS STAKE IN AVTOVAZ
PARIS (Reuters) – The French automobile group Renault announced in a press release on Monday that it had signed agreements to sell its subsidiary Renault Russia and its stake in the Russian company Avtovaz, as part of the application of European sanctions imposed on the Russia because of the war in Ukraine.
The agreement provides for an option for Renault Group to buy back its stake in Avtovaz, exercisable at certain periods over the next 6 years, the statement said.
(Written by Tangi Salaün, edited by Matthieu Protard)