Volga | Industry, manufacturing

AvtoVAZ to buy GMs share in the JV for up to $120m?

3 Jun '09
Auto giant AvtoVAZ, based in Togliatti, Samara region, is considering purchasing General Motors share in their JV GM-AvtoVAZ, Kommersant reports.

Experts estimate the deal price at $60-$120m.

AvtoVAZ reportedly gets priority purchase right of the GM share since GM is bankrupt.

GM-AvtoVAZ JV was set up in 2001. The two partners each own 41.6% shares in the JV, with the remaining 16.8% controlled by European bank for Reconstruction and Development.

Yesterday Marchmont wrote that AvtoVAZ is to receive an $815m non-interest loan from RF Government.
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