trending Market Intelligence /marketintelligence/en/news-insights/trending/vnNm8YxXZfQRy-5wM1IINw2 content esgSubNav
In This List

Renault-controlled JV secures 100% stake in Russia's Avtovaz

Case Study

A Sports League Maximizes Revenue from Media Rights

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity


Renault-controlled JV secures 100% stake in Russia's Avtovaz

Alliance Rostec Auto BV, the joint venture between French automaker Renault SA and Russian state conglomerate Rostec, on Dec. 26 took its stake in Russian automaker OAO Avtovaz to 100%.

Alliance Rostec had acquired 83.5% of Avtovaz in May, which triggered a mandatory buyout offer due to surpassing the 75% shareholding threshold. The JV launched its mandatory offer to purchase the remaining shares in July, which increased its Avtovaz stake further.

That was followed by a "squeeze-out operation" launched in September that saw a total of 375,068,439 shares tendered, representing 3.36% of Avtovaz. As a result, the joint venture's shareholding rose from 96.64% to 100%.

Financial details of the buyout were not disclosed.

Renault controls 67.61% of the Alliance Rostec joint venture, with the remaining 32.39% held by Rostec.