Volkswagen Exits Russia, Completes Sale Of Russian Operations To Local Dealer
Portfolio Pulse from Shivani Kumaresan
Volkswagen AG has completed the sale of its Russian operations, including the assembly plant in Kaluga, to Art-Finance LLC, supported by Russian Dealer Avilon. The deal is valued at approximately $135 million. Volkswagen joins other European carmakers like Mercedes-Benz and Renault in exiting Russia.
May 22, 2023 | 1:26 pm
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Mercedes-Benz is mentioned as one of the European carmakers that have exited Russia in the past year.
Mercedes-Benz is mentioned in the context of other European carmakers that have exited Russia. However, the news is focused on Volkswagen's exit, and there is no new information about Mercedes-Benz's operations in Russia. Therefore, the short-term impact on MBGYY's stock price is neutral.
CONFIDENCE 90
IMPORTANCE 25
RELEVANCE 50
NEUTRAL IMPACT
Renault is mentioned as one of the European carmakers that have exited Russia in the past year.
Renault is mentioned in the context of other European carmakers that have exited Russia. However, the news is focused on Volkswagen's exit, and there is no new information about Renault's operations in Russia. Therefore, the short-term impact on RNLSY's stock price is neutral.
CONFIDENCE 90
IMPORTANCE 25
RELEVANCE 50
NEUTRAL IMPACT
Volkswagen has sold its Russian operations to Art-Finance LLC for $135 million, joining other European carmakers in exiting the country.
The sale of Volkswagen's Russian operations is a significant event for the company, but the short-term impact on its stock price is uncertain. While the sale may be seen as a positive move to reduce exposure to the Russian market, the relatively low sale price compared to the initial investment may be viewed negatively. Overall, the short-term impact on VWAGY's stock price is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100