Nissan to purchase 10 per cent of AUTOVAZ shares.

23/11 Tass 89

TOKYO, November 23 (Itar-Tass) -- The Japanese automobile-making
concern Nissan has decided to purchase 10 per cent of shares of AUTOVAZ,
the Nikkei, the leading business newspaper of Japan, reported on Tuesday.
This is the first time the Japanese automobile producer is going to
finance the big Russian automobile-making company. The French Renault has
already purchased 25 per cent of AUTOVAZ shares. So, the Renault-Nissan
automobile-making alliance will become the owner of the block of shares
exceeding one third of shares of the Russian firm. In the opinion of the
Nikkei, this will make it possible for Renault-Nissan to influence rather
effectively the commercial activities of AUTOVAZ.
According to the Nikkei, Renault-Nissan "is planning to begin jointly
with AUTOVAZ in 2012 a mass production of small-size cars and to deepen
financial cooperation with its Russian partner, which will permit to
expand its presence on the growing Russian market."
-0-rom/ast


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