On the 30th, the Beijing Business Daily reporter was informed that the Renault-Nissan Alliance has completed the increase in its stake in Russia Volga Motors. After the share ratio exceeds 50%, it has achieved absolute control over Volga. After the completion of the transaction, the Renault-Nissan-Volga Automobile Alliance will become the world's third largest automobile group. Volga is the manufacturer of Radha, Russia's best-selling car brand.
A Renault spokesman said that when the Renault-Nissan shareholding agreement was signed in 2012, the agreement is expected to be completed in June 2014, and the actual completion time is June 18 this year. Renault spent $1 billion in 2008 to acquire a 25% stake in Volga, while Nissan owns a 10% stake in Volga. After the completion of the increase, Renault's shareholding ratio increased to about 35%, while Nissan held nearly 15% of the shares, a total of slightly more than 50%.
According to the final agreement signed by the Renault-Nissan Alliance and the Volgo Cars parent company Russia National Technology Group in December 2012, the two parties and one of Volga's current major shareholders, Troika Dialog Investment Bank, will form a joint venture subsidiary, Alliance Rostec, through which Renault-Nissan will Volga realized holdings.