The News Craving
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DPA
DPA
French automaker Groupe Renault announced Monday it is selling its Russian branch to Moscow City and its 67.69% controlling interest in Russian company Avtovaz to the state-owned NAMI research institute. The closing of the transactions is not subject to any conditions, and all required approvals have been obtained, said the company. Renault said the the agreement provides for an option to buy back its interest in automobile manufacturing company Avtovaz from NAMI (the Central Research and Development Automobile and Engine Institute) at certain times over the next six years. Avtovaz is best kno…