Rostec withdrew from the shareholders of AvtoVAZ – Kommersant
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The Rostec State Corporation withdrew from the shareholders of AvtoVAZ. This was reported Interfax with reference to the data of the Unified State Register of Legal Entities.
Rostec transferred its 32.3% stake to the Federal State Unitary Enterprise Scientific Research Automotive and Automotive Institute (NAMI), subordinated to the Ministry of Industry and Trade, in a joint venture with AvtoVAZ LLC Lada Auto Holding. According to the registry, since May 5, NAMI has been the sole owner of Lada Auto Holding LLC.
Until the end of 2021, AvtoVAZ controlled the Dutch JV Alliance Rostec Auto BV, which was owned by Rostec (32.3%) and the French Renault (67.7%). Since the end of 2021, the joint venture was transferred to Russian jurisdiction with the retention of shares, as a result, Lada Auto Holding LLC became the owner of AvtoVAZ.
In 2022, due to the start of the Russian military operation and the subsequent sanctions, Renault stopped working in Russia. His stake was transferred to NAMI with a buyback option within six years. At the same time, Rostec retained its share of 32.3%.
About the situation in the Russian car market – in the publication “Kommersant” “The car market grew in April”.
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