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RENAULT / RUSSIAN TECHNOLOGIES / AVTOVAZ
M.5061
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
COMP/M.5061 - RENAULT/ RUSSIAN TECHNOLOGIES/ AVTOVAZ
SECTION 1.2
Description of the concentration
The Proposed Concentration consists in the acquisition by Renault SA, France (through Renault s.a.s, a wholly owned subsidiary of Renault SA) of joint control of AvtoVaz, Russia. The other jointly controlling parent of AvtoVaz at closing will be Russian Technologies, which will succeed Rosoboronexport (the current principal shareholder of AvtoVaz) as a jointly controlling shareholder in AvtoVaz. Both Rosoboronexport and Russian Technologies are state-owned entities of the Russian Federation. The Parties expect that the Proposed Concentration will help accelerate the development and expansion of AvtoVaz and its Lada brand in Russia and other CIS countries where AvtoVaz is predominantly active, and allow Renault to expand in Russia.