The story
GAZ Group was founded in 2005 as a result of the restructuring of the production assets of Ruspromavto, which existed from 2001.
In August 2006, Gaz Group's military technology enterprises JSC Arzamas Machine-Building Plant, in Viksa, and JSC Barnaultransmash became the independent Military Industrial Company to ensure the separation of automotive business of Russian Machines into public (GAZ Group) and non-public (Military-Industrial Company) assets.
In the summer of 2006 "GAZ Group" acquired UK based manufacturer of light trucks LDV Holdings (Birmingham) for $40,670,000. In the spring of 2009 in connection with the marketing of the crisis caused by, including the global economic crisis, LDV Holdings came under bankruptcy and in early May 2009, GAZ Group agreed to sell the company to Malaysian carmaker Weststar.
In 2008, "GAZ Group" has agreed to buy 50% of Italian VM Motori and localization of its engines. Closing of the transaction was to take place after the approval of the antitrust authorities. GAZ Group has also entered into an agreement with General Motors who controlled 50% of VM Motori on the basis of co-ownership of the Italian company. In mid-2009, the deal was canceled in the aftermath of the economic crisis.
From Wikipedia’s article on GAZ Group, shared under CC BY-SA 4.0.4