Business | Oct 12

Nissan sells its Russian operation with 6 year buyback option

TOKYO, Oct 12 (siasat.com) - Japan’s Nissan Motor Company has decided to sell its Russian operations with an option to buy it back within six years, the company said.

The company also said it will take a one-off impact of approximately 100 billion yen from this exit.

According to Nissan, its Executive Committee on Tuesday approved the sale of its Russian operations to NAMI, the Central Research and Development Automobile and Engine Institute.

The sale will transfer all Nissan operations in Russia under the Nissan Manufacturing Russia LLC (NMGR) legal entity to NAMI for future passenger vehicle projects, Nissan said.

This covers Nissan’s manufacturing and R&D facilities in St Petersburg, and Sales and Marketing centre in Moscow, which will operate under a new name. ...continue reading

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