It is reported that the Federal Antimonopoly Service satisfied the application of OJSC AvtoVAZ for the acquisition of 100% of the authorized capital of Production of Special-Purpose Vehicles Vis-Avto LLC submitted on November 30 2011.

The transaction applied for will not result in the restriction of competition, FAS commented.

AvtoVAZ (tax number: 6320002223) is a leader in the automotive industry in Russia. The capacities of the company ensure the annual output of over 800 thousand automobiles. In 2010, the enterprise produced 545.450 thousand cars exceeding the 2009 result by 85.1%. The amount of deliveries of vehicle sets to external assembly plants increased by 79.1% to 77.626 thousand. In 2011, AvtoVAZ expects to produce and sell about 700 thousand cars and vehicle sets.

(Sourced from AK&M)