VIENNA – Russia’s largest car maker, OAO AvtoVAZ, will take over the bankrupt OAO IzhAvto car plant based in Izhevsk, the capital of the Russian Republic of Udmurtia. AvtoVAZ, its state-owned shareholder GK Rostekhnologii and OAO Sberbank Rossii, IzhAvto’s largest creditor, sign a memorandum of understanding regarding the deal in a meeting attended by Russian Prime Minister Vladimir Putin. IzhAvto suspended production as a result of bankruptcy in spring 2009. It restarted output of the ...
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