Renault sells its stake in Russia's Avtovaz, option to buy it back

Renault said on Monday it would sell its majority stake in carmaker Avtovaz to a Russian science institute, adding the agreement provided a six-year option for the French carmaker to buy back this interest.

"The closing of these transactions is not subject to any conditions, and all required approvals have been obtained", Renault said.

($1 = 0.9612 euros)

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