Rostec Returns to AvtoVAZ Shareholders

Rostec Returns to AvtoVAZ Shareholders

AvtoVAZ President Maxim Sokolov announced that the state corporation Rostec has once again become a shareholder of the automaker, having exercised the right of repurchase. Rostec now owns 32.3% of AvtoVAZ shares.

The AvtoVAZ president explained Rostec's return to the number of shareholders by the changing situation in the country. "If the corporation has returned to the shareholder group of the national automaker, then there are both political and economic reasons for this," said Mr. Sokolov.

In May 2023, Rostec withdrew from AvtoVAZ shareholders, transferring its stake to the Federal State Unitary Enterprise Scientific Research Automobile and Automotive Engine Institute (NAMI) in a joint venture with AvtoVAZ, Lada Auto Holding LLC. The terms of the exit left Rostec with the right of repurchase.

Until the end of 2021, AvtoVAZ controlled the Dutch joint venture Alliance Rostec Auto B.V., owned by Rostec (32.3%) and the French Renault (67.7%). After the joint venture was transferred to Russian jurisdiction, Lada Auto Holding LLC became the owner of AvtoVAZ. In 2022, Renault ceased operations in Russia, and its share was transferred to NAMI with a buyback option for six years.

https://www.kommersant.ru/doc/7166544?from=top_main_8

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