Mercedes-Benz will vend its Russian operations
Date
10/27/2022 5:25:42 AM
(MENAFN) Mercedes-Benz, a major manufacturer of automobiles in Germany, declared on Wednesday that it is going to exit the Russian market as well as sell its shares in its companies that provide industrial and financial services to a local company.
The corporation states that the local subsidiaries' shares would be sold to the Avtodom chain of vehicle dealers. The purchaser claimed that it is going to choose a technical partner to continue managing the manufacturing facilities at the Mercedes-Benz facility in the Esipovo industrial park northwest of Moscow. The ability to maintain Mercedes-Benz automobiles sold in Russia is going to be available to Avtodom.
Natalia Koroleva, CEO of Mercedes-Benz Rus, declared that “the main priorities in agreeing the terms of the transaction were to maximize the fulfilment of obligations to clients from Russia both in terms of after-sales services and financial services, as well as preserving the jobs of employees at the Russian divisions of the company.”
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