State corporation Russian Technologies is planning to spend up to 12,7 billion rubles for the purchase of additional shares of AvtoVAZ

As previously reported, the first phase of an additional issue, which will end in 2011, Russian Technologies will increase its stake in AvtoVAZ to the current 25 percent plus one share to 29 percent, while Renault will retain a 25 per cent stake. It is planned that the French company would make to the budget of the plant 114 million euros in technology and equipment, and Russian Technologies - 330 million euros. Moreover, this amount will provide goskoroporatsiya through conversion of debt AvtoVAZ (65 billion rubles) in front of her shares of the company.

In the second phase, scheduled for late 2012, the share of Russian Technologies will be increased to 44 percent. The total volume of additional share issue will amount to 1.01 billion euros (770 million euro Russian Technologies, and 240 million euros Renault).