29.11.2022, 15:20
AvtoVAZ was allowed to buy the Russian bank of the Renault-Nissan alliance
Source: OREANDA-NEWS
OREANDA-NEWS AvtoVAZ has received permission to acquire 100% of the shares of the Russian RN bank, developed by the Renault-Nissan alliance together with the "daughter" of the Italian group UnuCredit.
The corresponding decree dated November 29 signed by Russian President Vladimir Putin was published on the legal information portal.
"AvtoVAZ, together with shareholders and the relevant ministry, are discussing possible details of such a deal," the press service of the automaker told Interfax.
RN Bank is on the list of 45 banks, transactions with shares of which require special permission from the president. This is the first such permit received since the ban was introduced in August 2022.
AvtoVAZ has received permission to buy the holding company BARN B.V., through which the partners own RN Bank (40% belongs to Unicredit Bank, another 30% from French Renault and Japanese Nissan Motor).
After the start of the special operation on the territory of Ukraine, Renault and Nissan decided to leave Russia and transfer their assets to the ownership of the Russian FSUE NAMI. NAMI did not comment on the possibility of buying out Unicredit Bank's stake in RN Bank.
UniCredit is considering leaving Russia. In July, the head of the group, Andrea Orcel, said during a conference call with analysts that the group sees interest in Unicredit Bank from countries that have not imposed sanctions against the Russian Federation. However, he noted that the group is not going to sell the asset at any price.
The business profile of RN Bank is focused on the issuance of car loans and factoring financing of car dealers. By the end of 2021, the bank was ranked 56th in the Interfax-100 ranking with assets of 116.2 billion rubles. The credit institution's own funds at the end of last year amounted to 27 billion rubles.
The corresponding decree dated November 29 signed by Russian President Vladimir Putin was published on the legal information portal.
"AvtoVAZ, together with shareholders and the relevant ministry, are discussing possible details of such a deal," the press service of the automaker told Interfax.
RN Bank is on the list of 45 banks, transactions with shares of which require special permission from the president. This is the first such permit received since the ban was introduced in August 2022.
AvtoVAZ has received permission to buy the holding company BARN B.V., through which the partners own RN Bank (40% belongs to Unicredit Bank, another 30% from French Renault and Japanese Nissan Motor).
After the start of the special operation on the territory of Ukraine, Renault and Nissan decided to leave Russia and transfer their assets to the ownership of the Russian FSUE NAMI. NAMI did not comment on the possibility of buying out Unicredit Bank's stake in RN Bank.
UniCredit is considering leaving Russia. In July, the head of the group, Andrea Orcel, said during a conference call with analysts that the group sees interest in Unicredit Bank from countries that have not imposed sanctions against the Russian Federation. However, he noted that the group is not going to sell the asset at any price.
The business profile of RN Bank is focused on the issuance of car loans and factoring financing of car dealers. By the end of 2021, the bank was ranked 56th in the Interfax-100 ranking with assets of 116.2 billion rubles. The credit institution's own funds at the end of last year amounted to 27 billion rubles.
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