Renault-Nissan moves to take control of Russia's largest automaker
Technically, the deal is structured under a joint venture between Renault-Nissan and Russian Technologies, a state-owned corporation. Under a recently-signed memorandum of understanding, Renault-Nissan will own 67.13 percent of the venture, which will own 74.5 percent of Avtovaz. The alliance already holds a 25 percent stake in Avtovaz.
Under the MOU, Renault will invest around $300 million in the joint venture, while Nissan will put in $450 million.
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