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20 Apr 2023

Reuters Staff

Russia: Govt. approves Volkswagen factory sale, media reports

Russia approves Volkswagen factory sale - Vedomosti cites sources, 21 April 2023

Russia’s government has approved the sale of Volkswagen’s factory in the city of Kaluga, the Vedomosti daily reported...citing two unnamed sources, a step towards the German carmaker finalising its exit from Russia.

Vedomosti named autodealer group Avilon as the buyer, backing up previous Russian media reports. Its sources did not know what the transaction value would be.

A source close to the matter told Reuters that no documents had been signed so far. A separate source said the Volkswagen-Avilon deal was in the works, but provided no further details.

Volkswagen did not immediately respond to requests for comment. Russia’s industry and trade ministry and Avilon declined to comment...