Yesterday, October 27, 2011, closed the acquisition of AVTOVAZ 100% of shares of LLC "United automotive group" (OAS manages "IzhAvto"). The transaction value is 1.7 billion. As reported the press service of the company, the transaction was carried out in accordance with the terms of the Memorandum of understanding on long-term development and modernization of "IzhAvto", signed in December 2010 in the presence of Prime Minister Vladimir Putin, CEO of Russian technologies state Corporation Sergey Chemezov and two presidents: AVTOVAZ - Igor Komarov, Sberbank of Russia German Gref. The head of Udmurtia Alexander Volkov has congratulated the staff of the Izhevsk automobile plant with this event. "Of course, AVTOVAZ is for "IzhAvto" the most reliable and promising partner, and from this day begins the hard work on the exit to a new level", - he stressed. In the spring of 2011 AVTOVAZ transferred in Izhevsk production of "classics" - Lada 2107, and in mid-2012 on the conveyor IzhAvto will get new people's car AVTOVAZ - Lada Granta. The plan for the development of "IzhAvto", providing for the modernization of the enterprise (in particular, you will need to create extrusions and plastic production), will be adopted in the coming months.