Renault Sells Russian Assets to Moscow, Mayor Wants to Revive Soviet-Era Moskvich Brand

The Renault Group has decided to sell 100% of its shares in Renault Russia to the Russian government, together with its 67.69% interest in AvtoVAZ, which we already knew was going to NAMI (the Central Research and Development Automobile and Engine Institute). This agreement also holds an option for the French carmaker to buy back its interest in AvtoVAZ, exercisable at certain times during the next six years. &l... (continue reading...)