Russia’s Sollers sells Sollers-Isuzu stake to Japanese companies

MOSCOW, Dec 25 (PRIME) -- Russian car producer Sollers has sold a 29% stake in joint venture Sollers-Isuzu to its Japanese partner Isuzu Motors Limited and a 21% voting stake to Japanese trading house Sojitz, according to a Sollers statement published Friday.

After the deal, Isuzu Motors Limited drove its voting stake to 74% and Sojitz Corporation to 26%.

Sollers’ CEO Vadim Shvetsov said earlier that the company will disinvest from the asset in order to focus on off-roader and light commercial vehicle production, which are the strategic segments for the company, while Sollers-Isuzu produces small trucks and is hoped to continue development of the Russian business.

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