Renault SA
13/15 quai Alphonse Le Gallo
92100 Boulogne-Billancourt

Boulogne-Billancourt, May 24th, 2018

  • Alliance Rostec Auto BV ("ARA BV"), the Renault and Rostec joint venture which is the majority shareholder of AVTOVAZ, has filed today a package of mandatory tender offer documents with the Central Bank of Russia and expects to launch a mandatory tender offer in respect of AVTOVAZ shares held by minority shareholders following such review.
     
  • This follows the closed subscription in favor of ARA BV which was completed in May 2018.  Following this operation, ARA BV became the holder of 83.5% of the share capital of AVTOVAZ, exceeding the threshold of 75% at which, according to Russian regulations, the majority shareholder is required to launch a mandatory tender offer to minority shareholders.
     
  • The details of the mandatory tender offer will be made public when it is launched after the Central Bank of Russia completes its review.

VAZ MTO


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Source: RENAULT via Globenewswire