Mercedes-Benz to sell off Russian assets to local investor: Ministry

AFP , Wednesday 26 Oct 2022

German carmaker Mercedes-Benz is expected to sell its Russian assets to a local investor, the Russian ministry of industry and trade said Wednesday, becoming the latest automaker to exit since Moscow sent troops to Ukraine.

Mercedes-Benz
In this file photo taken on April 03, 2019 Russian President Vladimir Putin gives a speech at an opening ceremony of the Mercedes Benz automobile assembly plant outside Moscow. AFP

 

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"Mercedes-Benz intends to sell its shares in Russian subsidiaries to a local investor," Avtodom, the ministry said in a Telegram statement.

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