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 Truck this year as planned.

(Reporting by Victoria Waldersee; Writing by Alexander Marrow; Editing by Andrew Heavens)


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