An extraordinary general meeting of AvtoVAZ shareholders has approved taking out a 25bn ruble one year interest free loan from state owned industrial conglomerate Rostekhnologii, the carmaker said on Monday.
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Russian prime minister Vladimir Putin earlier this month instructed the government to disburse 25bn rubles to Rostekhnologii in order to provide financial aid to AvtoVAZ, the Prime-Tass news agency said.
Rostekhnologii, Renault and Russian investment bank Troika Dialog each hold 25% plus one share in AvtoVAZ.
