Kuwaiti state fund plans to sell shares of Mercedes for 1.4 billion euros
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Kuwait Investment Authority (KIA) – Kuwait’s sovereign wealth fund – plans to sell about 20 million shares of German automaker Mercedes-Benz Group AG, informed Bloomberg.
KIA will sell shares for 1.385 billion euros, which is 69.27 euros per share. After the sale, the fund will have about 53 million shares of the German concern. The Kuwaiti Foundation is the third largest shareholder of Mercedes shares – it is 6.8% of the entire company – and has held them for almost 50 years.
In February, Russian President Vladimir Putin, by his order allowed joint-stock company Avtodom to acquire a subsidiary of Mercedes-Benz in Russia, Mercedes-Benz Bank Rus.
October 25, 2022 Vedomosti, citing sources reportedthat Mercedes will sell its plant in the Moscow region to Avtodom. One of the interlocutors of the publication admitted that the deal may include an option under which Mercedes-Benz AG will be able to return to ownership of the plant within a certain time.
Mercedes launched a plant in the Esipovo industrial park (Solnechnogorsk district of the Moscow region) in 2019. The declared investment amounted to at least 15 billion rubles, and the number of premium cars produced was 25,000–30,000 per year. The production site has been idle since the beginning of March last year.
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