Renault-Nissan will obtain a control packet of shares in Avtovaz in 2012

Renault-Nissan will obtain a control packet of shares in Avtovaz in 2012Renault-Nissan Alliance will close a deal with AvtoVAZ in 2012, as a result its share in the Russian car producer will increase and become controlling.

Earlier Renault CEO Carlos Ghosn mentioned that he expected the deal to be closed in 2011.

AvtoVAZ (RTS:AVAZ, MICEX:AVAZ) is the Russian automobile manufacturer formerly known as VAZ: Volzhsky Avtomobilny Zavod, but better known to the world under the trade name Lada. The company was established in the late 1960s in collaboration with Fiat.