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19. July 2010

Renault Rostechnoligies and Troika Dialog ink deal

Interfax reported that French carmaker Renault, state run Russian organization Rostechnologies and investment company Troika Dialog who are all shareholders in Russia largest automaker signed an agreement recently on increasing the automaker charter capital.

Renault will contribute technology and equipment worth EUR 240 million and Rostechnologies will put in RUB 12 billion.

The first stage of the additional issue will see Renault stake in AvtoVAZ decreasing, while Rostechnologies' grows to 29% and Troika Dialog contracts slightly. The three shareholders currently each hold 25%+1 share in the automaker.

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