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BERLIN (Reuters) – Mercedes-Benz said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country.
A Mercedes spokesperson said the company’s stake in Russian truckmaker Kamaz would not be affected by the intended transaction and should be transferred to Daimler (OTC:DDAIF) Truck this year as planned.
