Russian President Vladimir Putin gave the green light for Avtodom JSC to acquire Mercedes-Benz Bank Rus from Mercedes-Benz Group AG, a move confirmed by an official notice published on the government legal information portal and reported by Interfax.
The deal entails the full acquisition of Mercedes-Benz Bank Rus, amounting to 100 percent of the bank’s shares. Officials note that the transaction does not require any additional permissions, consents, or documents beyond the stated approval.
In October 2022, Mercedes-Benz announced its withdrawal from Russia and confirmed the sale of its assets to the Avtodom automotive group. Avtodom is positioned to maintain vehicle service and intends to select a partner to continue manufacturing at an industrial facility located in the Moscow region.
According to a senior Avtodom executive, the Moscow-area facility will keep operating through the summer of 2023. The plant is expected to produce vehicles branded by a foreign company, marking a shift in local production strategy while preserving local employment and service infrastructure.