Mercedes finally left Russia

The German automobile concern Mercedes-Benz has completed the sale of its assets in Russia to the local dealer group "Avtodom", including the Moscow-based car plant (ToV "Mercedes-Benz Manufacturing Rus"), writes censor.net.

Illustrative photo

According to the Russian register of legal entities, JSC "Avtodom" became the owner of 100% of the company that owns the plant and LLC "Mercedes-Benz Capital Rus" (engaged in leasing, factoring and car insurance) on April 18, Russian Interfax reports.

Information about the dealer's acquisition of control over other local Mercedes structures is not yet reflected in the register.

Thus, the dealer closed the deal, which was announced at the end of October, when Mercedes officially announced its withdrawal from Russia and the intention to sell the assets of Avtodom.

The agreement included shares in the two named companies, as well as JSC "Mercedes-Benz Rus" (the official distributor in the Russian Federation), LLC "Mercedes-Benz Financial Services Rus" (the leasing "daughter") and LLC "Mercedes-Benz Bank" Rus".

The amount of the deal for the sale of Mercedes' Russian assets was not disclosed. However, "Avtodom" reported that the German concern received an option to repurchase shares in the transferred legal entities "at a fair market price to be determined by an independent appraiser."

"Avtodom" still needs to find a partner to restore the plant. In September, the governor of the Moscow region, Andriy Vorobyov, said that it was about one of the Chinese car manufacturers.

The Mercedes-Benz plant in the Yesypovo industrial park in the Moscow suburbs was under construction for two years and opened in the spring of 2019. Its production facilities are designed to produce 25-30 cars a year in a full cycle. The first model of the enterprise was an E-class sedan. It was planned to gradually adjust the release of GLE, GLC and GLS SUVs.

Russian dealer group "Avtodom" was founded at the end of 1992 and has 27 dealer centers in Moscow, St. Petersburg and Krasnodar. The company specializes in the sale and service of premium and luxury cars, most of which have stopped officially supplying their cars to the Russian market.

Read also on Newsky "AllRight online school raised $1 million" and look at "Boring Pence" YouTube channels.

To always be aware of events, subscribe to TG channel Newsky. We also recommend current discussions of friends of Ukraine in North America on Rashkin Report YouTube channels.