Reuters 13 December 2012
Renault-Nissan finalized a long-awaited deal to take control of Lada-maker AvtoVAZ (AVAZ.MM) as it looks to snatch market share from rivals in Russia by taking the boxy cars upmarket for a rising middle class. Carlos Ghosn, leader of the Franco-Japanese alliance who was in Moscow to sign the agreement, said the deal deepens a four-year partnership it has had with AvtoVAZ, hoping to tap demand for new cars from Russians with growing incomes and rising aspirations.
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