Ford Completes Its Withdrawal From Russia ...Middle East

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Ford Completes Its Withdrawal From Russia
source : OILPRICE ( Middle East ) () 34
U.S. automaker Ford has completed its withdrawal from the Russian market with the sale of its 49 percent stake in the Russian-based Sollers Ford joint venture. Ford said on October 26 that it had finalized the deal to sell its stake in Sollers Ford for a "nominal" undisclosed price. Ford secured an option to buy back the shares within a five-year period "should the global situation" change in the coming years, the company said. The joint venture with Russian company Sollers was established in 2011. Ford suspended its business operations in Russia…

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