Mercedes has option to buy back Russian plant within 6 years

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Jessica Thompson

Jessica Thompson, a 35-year-old automotive enthusiast and mother of two, co-founded CarGirls.ca to empower and educate women about the automotive world. Jess's passion for cars started in her father's garage, learning the mechanics of automotive repair. With a degree in Mechanical Engineering, Jess has extensive expertise in automotive design and technology. She enjoys attending car shows, racing her custom-built Mustang, and teaching her kids about car maintenance. Jess is dedicated to inspiring and supporting women in their automotive journeys.

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Mercedes-Benz has the option to buy back its Russian plant within six years, the RIA news agency reported on Wednesday, citing trade minister Denis Manturov.

Mercedes agreed last year to sell shares in its industrial and financial services subsidiaries to local car dealer chain Avtodom.

Mercedes said earlier this month it had agreed the buyback option for its Russian assets, the sale of which has now been granted official approval.

Mercedes suspended exports to Russia and local manufacturing in early March 2022.

Deals to exit Russia by Western companies from so-called unfriendly countries — those that imposed sanctions against Russia — need approval from a government commission. Companies often insert buyback clauses that could one day see them return.