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Now certain: Hyundai has officially confirmed the sale of the factory in Saint Petersburg

  • December 19, 2023
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The South Korean company Hyundai decided at today’s board of directors to sell its stake in the Russian company Hyundai Motor Manufacturing Rus to the company Art-Finance. The

Now certain: Hyundai has officially confirmed the sale of the factory in Saint Petersburg

The South Korean company Hyundai decided at today’s board of directors to sell its stake in the Russian company Hyundai Motor Manufacturing Rus to the company Art-Finance. The costs of the transaction are not disclosed.

According to the automaker’s press service, after the final decision on closing the deal, the companies will discuss its details. Hyundai emphasized that despite the sale of Russian assets, the Koreans will continue to service cars previously sold in our market.

The South Korean newspaper Chosun Ilbo, citing insiders, claims that the St. Petersburg factory will be sold to the Art-Finance company linked to the Avilon dealer holding company for a symbolic price of 140,000 won – about 10,000 rubles . At the same time, according to journalists, the real value of the company is about 287 million won or about 19 billion rubles.

Earlier, authorities sent a letter to Vladimir Putin with a proposal to transfer Hyundai’s assets to Avtotor. However, Avilon was also actively interested in the Hyundai Motor Manufacturing Rus plant, closing a deal in May to buy Volkswagen’s Russian assets, including a plant in the Kaluga region.

According to the automaker’s press service, after the final decision on closing the deal, the companies will discuss its details. Hyundai emphasized that despite the sale of Russian assets, the Koreans will continue to service cars previously sold in our market.

The South Korean newspaper Chosun Ilbo, citing insiders, claims that the St. Petersburg factory will be sold to the Art-Finance company linked to the Avilon dealer holding company for a symbolic price of 140,000 won – about 10,000 rubles . At the same time, according to journalists, the real value of the company is about 287 million won or about 19 billion rubles.

Earlier, authorities sent a letter to Vladimir Putin with a proposal to transfer Hyundai’s assets to Avtotor. However, Avilon was also actively interested in the Hyundai Motor Manufacturing Rus plant, closing a deal in May to buy Volkswagen’s Russian assets, including a plant in the Kaluga region.

Source: Avto Vzglyad

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