Renault-Nissan and Russian Technologies Create Joint Venture to Finalize Strategic Partnership with AVTOVAZ

Moscow (ots/PRNewswire) -

- Renault-Nissan and Russian Technologies create joint venture to accelerate
product launches and technology transfer to AVTOVAZ, Russia's largest carmaker.
- Renault-Nissan will get a majority stake in the joint venture, called Alliance
Rostec Auto BV, which will control AVTOVAZ, leader of the Russian auto market.
- This deal promotes Renault, Nissan and LADA's improved synergy and product
development in the fast-growing Russian market.

The Renault-Nissan Alliance and Russian Technologies State
Corporation have created a joint venture which will hold their entire
equity interests in AVTOVAZ and serve as a stable, long-term
controlling shareholder for Russia's largest car company and the
owner of the LADA brand.

Renault-Nissan Chairman and CEO Carlos Ghosn announced the
creation of Alliance Rostec Auto BV today at a ceremony in Moscow
with Sergey Chemezov, General Director of Russian Technologies and
Chairman of the Board of AVTOVAZ, and Igor Komarov, President of
AVTOVAZ.

"Today's historic agreement is a win-win-win for all companies:
Renault, Nissan and AVTOVAZ. It is a significant new chapter in an
already solid partnership," Ghosn said. "The joint venture will help
accelerate our Russian market offensive. It will support the
competitiveness of AVTOVAZ, Russia's auto industry leader."

According to the terms of the deal, Renault-Nissan will invest
RUB23 billion (US$ 742 million). The investment will give
Renault-Nissan 67.13% of the joint venture by mid-2014. The joint
venture will then hold 74.5% of AVTOVAZ.

Renault, which purchased 25% of AVTOVAZ in 2008 and then helped
AVTOVAZ in its successful turnaround, will invest about RUB11.3
billion (US$366 million) in the joint venture and plans to own 50.1%
in the joint venture by June 2014. Nissan which did not previously
own a stake in AVTOVAZ, will invest RUB11.7 billion (US$376 million)
and plans to own 17.03% in the joint venture by the same period.

Over the same period, Russian Technologies will hold 32.87% of the
joint venture.

As part of the deal, Russian Technologies is restructuring its
outstanding loans with AVTOVAZ with RUB8 billion (US$258 million)
proceeds from the anticipated sale of AVTOVAZ's non-core assets being
used to repay part of Russian Technologies loans.

For the full release, go to:
http://www.media.blog.alliance-renault-nissan.com/news/3566

Video news release and b-roll also available on the site.

ots Originaltext: Renault-Nissan Alliance
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Media contact: Mia Nielsen, Renault-Nissan Alliance,
+33-(0)176-87-12-33, mnielsen@nissan-europe.com