Volkswagen has sold its shares in Russia

Volkswagen Group has sold its shares in Volkswagen Group Rus to a local investor

Volkswagen Group has completed the sale of its shares in Volkswagen Group Rus LLC including its local subsidiaries (Volkswagen Components and Services LLC, Scania Leasing LLC, Scania Finance LLC, Scania Insurance LLC) to Art-Finance LLC who is supported by the Russian Dealer Avilon.

With the registration of the transaction, ownership of the shares in the authorized capital of Volkswagen Group Rus LLC and its subsidiaries is transferred from the sellers to the buyer.

The new owner will acquire all shares in the Russian subsidiaries. The deal has been approved by the Russian government authorities. The transaction includes the production facilities in Kaluga, the importer structure (distribution and after-sales business) and the warehousing and financial services activities with all its associated employees.