AvtoVAZ has closed the acquisition of the United Automotive Group for RUB 1.7bn (US$56.5m).

The transaction complied with terms of an MoU signed in December 2010 for the long term development and mordernisation of UAG's IzhAvto.

The merged companies are preparing to start production of the new AvtoVAZ Lada Granta model line.

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