According to Denis Manturov, Minister of Industry of the Russian Federation, the State Duma approved the idea of writing off the 20 billion debt of the domestic auto giant AvtoVAZ. According to Denis Manturov, the Minister of Industry of the Russian Federation, the State Duma approved the idea of writing off the 20 billion debt of the domestic auto giant AvtoVAZ.
At the same time, he clarified that this would not be a classic write-off, but the so-called conversion of the auto concern's debt, which arose before Rostec. According to Manturov, such a practice is a natural process, and in the event of an agreement between Rostec and AvtoVAZ, the country's government will not mind.
It is worth noting that today the total amount of AvtoVAZ's debt exceeds 51 billion rubles, while after the “write-off” of the 20 billion debt, the remaining 31 billion rubles. will be converted into equity.
It is noteworthy that this decision was announced by the carmaker in the second half of June this year after an extraordinary meeting of shareholders, where it was agreed. not only representatives of AvtoVAZ are obliged to this process, but also partners from Renault-Nissan. The final meeting is expected to be held this fall.
Recall that the debt of AvtoVAZ arose during the economic crisis of 2008-2009, when Rostec made a decision to issue a loan to the auto concern for a total amount of 75 billion rubles, which, as it turned out, became too heavy for the enterprise.
