AvtoVAZ chief quintuples stake in company
MOSCOW. Dec 29 (Interfax) - President of OJSC Russia's largest automaker OJSC AvtoVAZ Igor Komarov has quintupled his stake in the company to 1.9009% of its charter capital or 2.0023% of its ordinary shares, AvtoVAZ materials released on Saturday say.
Komarov had earlier held 0.3609% of charter capital, or 0.4523% of ordinary stock. He increased his stake December 17, the materials indicate.
During stock trading on Friday, AvtoVAZ ordinary shares were going for 15.93 rubles apiece on the MICEX Stock Exchange.
The automaker's charter capital is 11,421,137,155 rubles split into 1,822,463,131 ordinary and 461,764,300 preferred shares - all with par value of 5 rubles.
Company group Russian Technologies, which changed its name to Rostech this month, owned 28.98% of the AvtoVAZ charter capital, Renault 25%, and Cyprus-based Troika Dialog Investments, Ltd. 20.14%.
Rostech, Renault, and Troika Dialog Investments registered a joint venture in December. They contributed their stock in AvtoVAZ to the JV, which was set up in Holland and has been named Alliance Rostech Auto BV.
Per the terms of the deal, Renault-Nissan is investing 23 billion rubles in the JV and will have a 67.13% stake in its charter capital by mid-2014 (Renault will get 50.1% and Nissan 17.03%), and Rostech's stake will be 32.87%. Afterwards, the joint venture will have 74.5% of AvtoVAZ.