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