Renault and alliance partner Nissan could take control of AvtoVAZ, Russia’s largest car company and the maker of Ladas, as soon as next month, according to media reports.
Originally, the deal was not expected to be finalised until the end of the year.
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Renault currently owns 25% of AvtoVAZ. One option under discussion, according to people close to the talks, is for Nissan to take a 15% stake and Renault to increase its share to 35%. Nissan currently has no direct holding in AvtoVAZ.
Renault and Nissan are in talks to buy shares held by Russian Technologies and Troika Dialog, each of which holds 25%.
Neither Russian Technologies nor Troika Dialog commented on the reports but a Renault spokeswoman told reporters the negotiations were continuing ‘behind closed doors’ but the intention was for Renault to be the dominant player in the AvtoVAZ partnership.
AvtoVAZ plans to start making jointly developed cars for Renault-Nissan by 2013. The company said a Logan-based small car platform would carry models marketed in Russia by all three companies under their own brands.
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