The Russian assets of Renault are being transferred to Russian state ownership, the Ministry of Industry and Trade said. The Moscow City Government will own 100% of Renault Russia.
A 67.69% stake in AvtoVAZ will be transferred to the Russian state represented by NAMI.
Service of Renault cars in Russia will now also be provided by AvtoVAZ.
The concern will continue to produce the entire line of Lada vehicles at its plants, the ministry added.