By Oyintari Ben
Mercedes-Benz (MBGn.DE) announced on Wednesday that it would leave the Russian market and sell interests in its finance and industrial service companies to a local investor, making it the most recent automobile company to leave the country.
The company’s interest in Russian truck manufacturer Kamaz (KMAZ.MM), according to a Mercedes spokesperson, will not be impacted by the planned transaction and will be transferred to Daimler Truck this year as scheduled.
The local investor AVTODOM will purchase shares from Mercedes-Benz, the company’s Russian representative announced on Wednesday. The Russian Ministry of Industry and Trade also confirmed the news at the same time.
According to Natalia Koroleva, General Director of Mercedes-Benz Rus JSC, “the main priorities when agreeing on the terms of the deal were the maximum fulfilment of obligations to customers from Russia, both in the sphere of after-sales service and financial services, as well as the preservation of jobs of employees in Russian departments of the company.”
Additionally, according to the statement from the ministry, the new owner of Mercedes-Russian Benz’s branch, AVTODOM, would be allowed to handle all manufacturing and maintenance tasks at the facility in the Esipovo industrial park.
