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Russian media: Mercedes-Benz to leave Russia, sell assets

by The Kyiv Independent news desk October 26, 2022 12:09 PM 1 min read
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German carmaker Mercedes-Benz plans to sell its Russian assets to local car dealer Avtodom, according to Russian-controlled news agency RIA Novosti.

According to Moscow Times, Mercedes-Benz confirmed it intended to quit Russia. "The completion of the transaction is subject to the approval of all relevant authorities," Mercedes-Benz reportedly said in the statement.

No financial details of the transaction were provided by either side, the media wrote.

Mercedes-Benz is the latest car manufacturer to exit Russia since the Kremlin launched its full-scale invasion on Feb. 24. Earlier in 2022, automakers Renault and Nissan announced they were leaving the Russian market.

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