Renault, AvtoVAZ close in on Russia car plant

Newswire

MOSCOW, May 22 (Reuters) - French car maker Renault SA , in partnership with Japan's Nissan Motor Co Ltd and Russia's AvtoVAZ OAO , is close to acquiring Russian car factory IzhAvto, Russian media reported on Thursday. "Today the decision was made for the Izhevsk automotive factory to become a part of that alliance, to be acquired by that alliance," IzhAvto head Mikhail Dobyndo told Interfax, referring to Renault-Nissan and AvtoVAZ. While confirming plans to acquire the plant, the ...

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