Renault Sells Its Stake In Russia’s Avtovaz Leaving Some Options For A Return
Renault is reportedly selling its majority ownership in Avtovaz (AVAZI p.MM) to a Russian science institute for one rouble, with a six-year option to buy it back, leaving the door open for the French automaker to return. To save thousands of jobs, Moscow Mayor Sergei Sobyanin announced that Renault’s plant in the city would be…