Ruben Vardanyan Sold His Shares in Avtovaz Company for $600 Million

MOSCOW – Russian based Armenian businessmen co-head of Sberbank CIB Ruben Vardanyan has sold 20.53% of his shares in AvtoVAZ company to Rostec state corporation and Renault-Nissan joint venture, Russian Vedomosti reports.

The cost of the deal may make $600 million.

“Troika Dialog Investments Ltd.” sold all the 20.53% shares to Dutch Alliance Rostec Auto B.V joint venture,” the paper writes.

Rostec representatives have not revealed the details of the deal reminding only that the deal was reached in December 2012 when the main shareholders signed the contract. According to it, by most of 2014 Alliance Rostec will gain the control over the big Russian car-maker.

By 2012 Troika Dialog had 20.5% of shares but last year the company has acquired Sebrbank.

This entry was posted in News. Bookmark the permalink.