German car giant takes major hit on sale of Russian business ...News

Russia Today - Economy
German car giant takes major hit on sale of Russian business
source : Russia Today ( News ) () 24
The deal earned Volkswagen Group just €125 million, according to a company report The world’s number one car manufacturer, Volkswagen Group, has completed the sale of its Russian business unit for €125 million ($139 million), the company’s financial statement for the first half of 2023 showed on Thursday.  The German automaker finalized the sale of its stakes in its Russian business to a local investor, Art-Finance, supported by Russian car dealer Avilon. The report showed that the deal was completed on May 18.  Apart from Volkswagen Group Rus, the buyer purchased Volkswagen Components and Service, Scania Leasing,

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