Renault to sell Russian assets for one ruble – officials ...News

The French automaker will reportedly transfer its Avtovaz shares to the research institute behind Russia’s first luxury car French carmaker Renault plans to sell its stake in Russia’s Avtovaz for a symbolic sum of 1 ruble, the Russian Trade Ministry announced on Wednesday. Renault will transfer its 68% stake to the auto research institute NAMI Russia, known for designing the Aurus Senat, the country’s first luxury car, currently used by President Vladimir Putin. Renault apparently took the step as it lacks the ability to maintain its Russian operations. The Trade Ministry also said Renault's factory in Moscow, whi

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