FILE PHOTO: The logo of Russian automobile maker Avtovaz is seen on a Lada car, which is on sale at the ‘AvtoGermes’ dealership in Moscow, Russia, March 14, 2016. REUTERS/Maxim Shemetov
December 9, 2019
MOSCOW (Reuters) – Russia’s biggest automaker Avtovaz said on Monday it would buy out General Motors <GM.N> from their joint venture producing vehicles in Russia under the Chevrolet brand.
Avtovaz has signed an agreement to buy GM’s 50% stake in the venture, it said without disclosing financial details of the deal.
(Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Edmund Blair)
