Renault Group sells Avtovaz stake with six-year buy-back option | Autocar

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Renault Group sells Avtovaz stake with six-year buy-back option | Autocar
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Renault Group sells Avtovaz stake with six-year buy-back option

"Today we have taken a difficult but necessary decision; and we are making a responsible choice towards our 45,000 employees in Russia while preserving the Group's performance and our ability to return to the country in the future in a different context,” said Renault Group CEO “I'm confident in the Renault Group's ability to further accelerate its transformation and exceed its mid-term targets.

The French firm will continue to target a “positive automotive operating free cash flow”. The company was previously aiming for a figure in excess of €1 billion .

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