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Ford to exit Russia after selling stake in joint venture
short by Ambarish Awale / on Wednesday, 26 October, 2022
Ford Motor said it is exiting Russia after finalising a deal to sell its 49% stake in the Russia-based Sollers Ford joint venture. Ford said the deal was agreed for a "nominal" undisclosed price. Ford took a $122 million writedown connected to its suspended Russian operations earlier this year but will not take additional writedowns in connection with Wednesday's announcement.
read more at Reuters