The Renault-Nissan partnership is expected to sign $750m deal with Russia based OAO AVTOVAZ by next week, which would give 67.13% ownership of the company which manufactures Lada.
Under the deal, Renault-Nissan would buy the stake held by investment bank Troika Dialog in AvtoVAZ to hold 67.13% stake in the JV with Russian Technologies which in turn controls the company by holding 74.5% stake in the company.
The deal, aimed at expansion in the growing Russian car market, has been agreed in May 2012, which was scheduled to be finalised during late 2012 and not implemented until 2014.
Of the total investment, Renault will invest $300m for which it would swap its existing 25% stake in AUTOVAZ for 35% holding, while Nissan will invest about $450m for 15% stake.
Renault holds 43.4% stake in Japanese carmaker Nissan, which for its part holds about 15% of the French carmaker.
International auto makers have been putting money in Russia with the anticipation of optimistic growth due to the country's growing middle class, according to Reuters.
