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Russia: Volkswagen cleared to raise ownership in Russian unit

 |  November 13, 2013

The Netherlands-based Volkswagen International Finance has been cleared by Russia’s Federal Antimonopoly Service to up its stake in Russian unit Volkswagen Group Rus by 6.22 percent, say reports.

The buyout will land a total of 55.14 percent of the company in Volkswagen International Finance hands.

The buyer is fully owned by Volkswagen AG and focuses its operations on investing and financing into companies within relevant industries.

Volkswagen’s Russian company manufacturers automobiles in central Russia, say reports.

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