By Stocksak: Mercedes-Benz to Sell Shares in Russian Subsidiaries to Local Investor

© Stocksak. FILE PHOTO – The Mercedes-Benz logo can be seen at the 43rd Bangkok International Motor Show in Bangkok, Thailand, on March 22, 2022. REUTERS/Athit Perawongmetha

BERLIN (Stocksak – Mercedes-Benz announced Wednesday that it would withdraw from Russia’s market and sell shares of its financial and industrial services subsidiaries to a local investor. This makes it the latest carmaker to leave the country.

Mercedes spokesperson said that the planned transaction would not affect Mercedes’ stake in Russian truckmaker Kamaz. Accordingly, the transfer should be made to Daimler (OTC) Truck this year.

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