Nissan Motor Co., Ltd. (ADR) will Invest in Russian Car Maker AvtoVAZ – PINK: NSANY

It's reported on Friday November 19, 2010 that Japanese automaker Nissan Motor Co., Ltd. (ADR) PINK: NSANY will buy a 10% stake in Russia's biggest automobile manufacturer Avto VAZ (AVAZ.MM) in the coming year. According to the Russian technologies head Sergei Chemezov the Russian Technologies will sell 4% while Torika Dialog will sell 6% stake. Each one of Russian Technologies and Torika Dialog currently owns 25% of Avtovaz stake. In collaboration with partner Renault (RENA.PA) Nissan also has 25% stake in Avatovaz. According to the French company the alliance may increase its stake to 50%. Chemezov told that Russian Technologies valued Avatovaz at $2.8 to $2.9 billion in advance of the sale which would take place in the coming year. NISSAN MOTOR CO., LTD. is a Japan-based automobile manufacturer. The Company operates through two business segments. The Automobile segment is engaged in the planning, development, manufacture and sale of passenger vehicles, trucks, buses, marine vehicles, forklifts and related parts, the import and export of automobiles, as well as the transportation of vehicles to overseas markets. The Sales and Finance segment is engaged in the provision of credit card and leasing services, as well as non-life insurance services.
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