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25/02/2022
AVTOVAZ acquired GM's stake in the joint venture for 0.4 billion rubles
Russian Automotive Market Research
AVTOVAZ bought out General Motors' 50% stake in GM-AVTOVAZ joint venture for 0.4 billion rubles.
Recall that in December 2019 AVTOVAZ signed the agreement with General Motors to buy 50% of shares of GM-AVTOVAZ joint venture from the American company. As a result of the transaction, the company, later renamed LADA Zapad Togliatti, became a 100% affiliated company of AVTOVAZ Group. As part of the agreement, Niva SUV returned to LADA model line-up.
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