Mercedes to Sell Shares in Russia to Avtodom Dealer

The German automaker Mercedes-Benz has announced the withdrawal from Russia and the sale of shares in local subsidiaries, including an automobile plant in the Moscow region, to the Avtodom dealer holding. This was reported by the Russian representative office of the concern. 

In particular, the shares in Mercedes-Benz RUS JSC, Mercedes-Benz Manufacturing Rus LLC (a plant in the Moscow region), Mercedes-Benz Financial Services Rus LLC, Mercedes-Benz Bank Rus LLC, and Mercedes-Benz Capital Rus LLC will be sold.

“The main priorities in agreeing on the terms of the transaction were to maximize the fulfillment of obligations to customers from Russia both in the field of after-sales service and financial services, as well as the preservation of jobs for employees of the company’s Russian divisions,” the CEO of Mercedes-Benz Rus, Natalia Koroleva, said.

Avtodom dealer holding, as the new owner of the Russian divisions of Mercedes-Benz, will be able to attract other companies as partners to organize joint production on the basis of a Moscow automobile plant. According to the Deputy Minister of Industry and Trade, Albert Karimov, the final stage of agreeing an investment deal has been reached “to ensure the plant’s efficiency, preserve highly qualified jobs and competencies.”

“After all approvals are completed, the new owner of the Russian Mercedes-Benz divisions, Avtodom, will be able to carry out maintenance of Mercedes-Benz cars sold on the Russian market,” he stated.

Ru-Main, 26.10.2022
Source: Interfax 

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