AvtoVAZ may close the deal on RN Bank before the end of the year
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Domestic automaker “AvtoVAZ“is ready to close a deal to purchase the holding structure BARN BV, through which the partners manage RN Bank,” said the head of AvtoVAZ, Maxim Sokolov, on the sidelines of the Russian Industrialist forum.
“If we move quickly, I would close this deal by the end of the year, we are ready. The council (of the directors of AvtoVAZ – Vedomosti) has already approved such a possibility. Then we need to take the necessary corporate procedures, of course, by signing the appropriate agreement. Now it depends more on our partners, because they also need to carry out their corporate procedures,” he said.cit. by Interfax).
According to Sokolov, AvtoVAZ needs the bank to interact with dealers and run state support programs, including concessional lending and leasing, as well as lending to dealerships.
November 29 Russian President Vladimir Putin signed the order according to which AvtoVAZ received the right to purchase BARN BV, in which French Renault and Japanese Nissan Motor each own 30%, the remaining 40% belong to Unicredit Bank. The last one already approved sale of its 40% stake in the managing structure of RN Bank BARN BV
RN Bank is on the list of 45 banks, transactions with shares of which were prohibited without special permission from the head of state. This is the first such permission received since the introduction of the ban in August 2022, the list of banks was approved at the end of October. In addition to RN Bank, the list of banks also includes SberbankRaiffeisenbank, Unicredit Bank, etc.
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