By on May 4, 2012

Renault-Nissan is buying a majority stake in Russian automaker AvtoVaz. For those not in the Russian Car Appreciation Society, AvtoVaz is the maker of Lada cars.

Current owner (and weapons maker) Russian Technologies will enter a joint-venture with Renault-Nissan as a means of structuring the deal. Renault-Nissan will own 67.13 percent of the JV, which will in turn have  a 74.5 percent stake of AvtoVaz. Following the necessary due diligence, the deal is expected to be completed in 2014.

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