Financial Times FT.com

Renault seals Avtovaz revamp deal

By John Reed in London

Published: November 27 2009 14:50 | Last updated: November 27 2009 18:56

Vladimir Putin, Russia’s prime minister, on Friday announced a Rbs50bn ($1.7bn) government cash injection into carmaker Avtovaz as part of a rescue agreement signed in Paris with Renault, which will contribute €240m ($359m) worth of technology and know-how.

Mr Putin on Friday hailed a breakthrough in economic relations with France after signing commercial agreements in fields from cars to energy.

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