Sergey Chemezov, CEO of Rostec, stated that there are currently no political conditions for the French concern Renault to return to the capital of AvtoVAZ. According to him, no negotiations are being conducted with the company on this matter.
Renault exited AvtoVAZ's capital in May 2022, transferring 67.7% of the shares to the state represented by FSUE NAMI, while retaining an option to buy them back within six years. In the spring of 2023, the remaining 32.3% of shares owned by Rostec were also transferred to NAMI, but in September 2024, the state corporation regained this stake.
Chemezov emphasized that AvtoVAZ has managed to adapt without a foreign partner, and Renault's return would require compensation for the costs incurred by the state and Russian companies during the concern's absence. He estimates that this involves hundreds of billions of rubles.
If the French are ready to behave normally and compensate for these costs, then please, let them apply. Then we will consider it.
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