Renault : ARA BV Increases Stake In AVTOVAZ's Share Capital To 100% From 96.64%

Alliance Rostec Auto BV or "ARA BV", the Renault and Rostec joint venture which is the majority shareholder of AVTOVAZ, increased to 100% its stake in the share capital of AVTOVAZ following completion of the squeeze-out operation launched in September 2018 in respect of shares in AVTOVAZ held by minority shareholders. This operation was completed on 26 December 2018.

The results of this operation are as follows: 375.07 million tendered shares, representing a 3.36% shareholding in AVTOVAZ; ARA BV increased its stake in AVTOVAZ's share capital from 96.64% to 100%; Distribution of shares in ARA BV: 67.61% Renault, 32.39% Rostec.

This squeeze-out operation completes the recapitalization process that started in December 2016.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ryanair Holdings Plc reported Monday a loss in its fiscal year 2022, narrower than last year, with strong growth in traffic and load factor. Looking ahead, the company said it expects to return to reasonable profitability in fiscal 2023. Shares of the low fares airline were losing around 4 percent in the morning trading in Germany. The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert against Weis Markets' ready-to-eat or RTE General Tso Chicken meals due to misbranding and undeclared milk, a known allergen. The RTE General Tso Chicken meals were prepared, labeled and sold in the Deli area at Weis Markets stores between April 13 and May 11, 2022. Deutsche Telekom AG on Friday raised its fiscal 2022 adjusted earnings forecast after reporting significantly higher net profit in its first quarter. Shares of the German telecom major were gaining around 1 percent in the morning trading in Germany. For fiscal 2022, the company now expects to post adjusted EBITDA AL of more than 36.6 billion euros.
Follow RTT