OREANDA-NEWS. November 30, 2009. The shareholders of auto giant AvtoVAZ agreed to bail out the company, with RUB 50 bn to come from Russian authorities and RUB 300 bn from Renault via technologies. But the assistance scheme will be prepared only by March 1, 2010.

The auto maker and three owners of blocking stakes (Renault, state-run corporation Rostekhnologia, which represents the state’s interests, and Russian investment company Troika Dialog) signed a letter of intent with regard to the primary terms for AvtoVAZ’s restructuring.

The Russian government will provide the required resources to solve social issues and develop the enterprise for a total of Rub 50 bln. Earlier loans could also be capitalized, thereby increasing government support to RUB 75 bn.