German tire maker Continental closed the deal to sell the Russian business. All assets of the company, including the plant in the Kaluga region, were acquired by the S8 Capital holding company from businessman Armen Sargsyan.
S8 Capital Holding has acquired the Russian business of German tire maker Continental, writes Prime. The amount of the transaction is not disclosed.
All of Continental’s assets in Russia, including a tire manufacturing plant in the Kaluga region with a capacity of up to 4 million tires a year, and a distribution company, have become the property of S8 Capital. The Continental Kaluga plant was opened in 2013.
“The successful experience in IT business transformation gives us reason to hope to restart all production systems based on Russian IT technologies,” said Torsten Schubert, CEO of S8 Capital.
S8 The capital of businessman Armen Sargsyan is a diversified holding company, one of whose main assets is Stoloto, a distributor of lottery tickets in Russia. Previously, the holding bought three Bosch companies in the Saratov region.
Author:
Kirill Bilyk
Source: RB
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