Nissan to invest in Russia's AvtoVAZ

MOSCOW, Nov. 19 (UPI) -- A major shareholder of Russian automaker AvtoVAZ said Japan's Nissan may buy 10 percent of the Russian company next year.

Sergei Chemezov, head of Russian Technologies, which owns 25 percent of the AvtoVAZ said a cash deal would take place in the first or second quarter of 2011, RIA Novosti reported Friday.

"Russian Technologies will sell 4 percent of its shares and Troika Dialog will sell another 6 percent," Chemezov said.

Troika Dialog is a Renault-Nissan partnership that also owns 25 percent of AvtoVAZ.