PARIS – Renault SA is raising its stake in its Russian subsidiary OAO Avtoframos, from 50% to 76%, paying €33 million ($42 million) on Oct. 28 to its partner, the City of Moscow, for the additional 26% share. The clear majority paves the way for Renault to invest heavily €230 million ($293 million) in the Avtoframos operation and begin production next year of the Renault Logan. Renault Logan Renault’s Romanian subsidiary Automobile Dacia SA currently is building the inexpensive car, ...
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