Volkswagen Group completed the sale of its business in Russia

16:23 19 May Kyiv, Ukraine

Automobile concern Volkswagen Group from Germany announced the completion of the sale of its shares in the Russian business to a local investor.

According to information published on the company's official website on Friday, May 19, Volkswagen has successfully completed the process of selling its shares in Volkswagen Group Rus LLC, including its local subsidiaries such as Volkswagen Components and Services LLC, Scania Leasing LLC, Scania Finance LLC and LLC Scania Insurance.

Art-Finance LLC, supported by the Russian dealer Avilon, was also sold.

The message states that the ownership of shares in the authorized capital of Volkswagen Group Rus LLC and its subsidiaries passed from the sellers to the buyer after the registration of the transaction.

The new owner has acquired all the shares of the Russian subsidiaries, and the deal has already been approved by the Russian authorities.
 
"The agreement includes the transfer of production facilities in Kaluga, distribution, after-sales services, as well as warehousing and financial services, along with all personnel associated with these operations," Volkswagen added.