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.

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


"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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