Russian Technologies to own over 40 pct in Avtovaz

Newswire

MOSCOW, May 24 (Reuters) - State-owned Russian Technologies on Monday said it plans to raise its stake in struggling domestic carmaker Avtovaz above the 40 percent level after converting the company's debt. "Renault plans to maintain its stake, and we will probably have about 40 (percent)," Russian Technologies head Sergei Chemezov told journalists. AvtoVAZ last month agreed to restructure 28 billion roubles ($898.3 million) of debt, with Russian Technologies agreeing to repay the ...

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