Renault buys stake in Avtovaz in $1 billion deal

Article Abstract:

French automobile manufacturer Regie Nationale des Usines Renault (Renault) bought a 25% stake in Russian automaker P/O AvtoVaz for $1 bil. The total value of the deal is less than the $1.33-bil figure originally reported in the Russian press. AvtoVaz is the nation's biggest automobile manufacturer with $5.1 bil market capitalization.

Motor vehicles and car bodies, Securities issued, listed, France, Company investment, Investments, Russia, Automobile industry, Securities, Regie Nationale des Usines Renault, Company securities, P/O AvtoVaz

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DaimlerChrysler's holders approve shortened name

Article Abstract:

DaimlerChrysler AG shareholders have approved to rename the company Daimler AG after the German automobile maker sold its Chrysler unit to Cerberus Capital Management LP. The vote was 98.76% in favor of the name change, marking an end to the nine-year German-US alliance.

Organizational nomenclature, TRANSPORTATION EQUIPMENT, Germany, Transportation equipment industry, Names, Investor relations, Daimler AG

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