France car manufacturer “Renault“negotiates to sell its majority stake Russia automotive company “AvtoVAZ“Russian Minister of Industry and Trade Denis Manturov told the local automotive research institute NAMI on Wednesday.
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Renault owns 68% of AvtoVAZ, but French company is under increasing pressure to leave Russia after its attack Ukraine.
Manturov said that Renault would sell its AvtoVAZ shares for one symbolic ruble, as well as a plant near Moscowwhich produces Renault andNissan“brand cars.
“The shares are likely to be acquired by our central institute, NAMI,” the minister said.
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