• Kyodo


Renault SA said Thursday it and Nissan Motor Co. will jointly invest about $750 million to acquire a majority stake in Russia’s largest carmaker, Avtovaz.

The Renault-Nissan alliance will hold its majority stake in Avtovaz through a joint venture to be formed with Russia’s state company, Russian Technologies. Under their agreement, the joint venture will own 74.5 percent of Avtovaz, Renault said.

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