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.
