Ford exits Russia following seven-month suspension of operations
Ford Motor Company has finalized the exit of its previously suspended operations in Russia through the sale of its 49 percent share in the Sollers Ford Joint Venture.
The sale follows the full suspension of all operations in Russia, including manufacturing, supply of parts, IT, and engineering support, in March this year.
Ford shares will be transferred to the Joint Venture for a nominal value. Ford retains the option to repurchase the shares within a 5-year period, should the global situation change, a release shows.