State bank to invest in AvtoVAZ-GM JV MOSCOW — The European Bank for Reconstruction and Development reportedly plans to invest E44.8 million (US$40 million) in a joint venture between Russia’s AvtoVaz and General Motors Corp. agreed upon in June. The companies plan to build sport/utility vehicles based on the AvtoVaz Lada and badged as Chevrolets. The EBRD will hold a 17% share in the venture and provide a E112 million (US$100 million) credit to replenish turnover funds. AvtoVAZ and GM ...

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