Mercedes-Benz says Russian nationalisation could threaten $2.2 bln in assets

By Nick Carey


LONDON, March 11 (Reuters) – Mercedes-Benz (MBGn.DE) has 2 billion euros ($2.2 billion) in assets that could be threatened by Russian proposals to nationalise the property of foreign firms that leave because of its invasion of Ukraine, the German premium carmaker said.

The company said in its annual report released on Friday that the war in Ukraine raised a range of risks from disruptions to parts to energy supply or even cyber attacks.

Russia’s ruling party, United Russia, said this week a government commission had approved the first step towards nationalising the assets of firms more than 25% owned by foreigners from “unfriendly states.” read more

Mercedes-Benz has a car plant in the town of Esipovo 40 km (25 miles) northwest of Moscow with over 1,000 employees that produces E-class sedans and SUVs.

Speaking at the opening ceremony, Putin said the plant would produce 25,000 cars a year and that investment in the project had totaled just under $300 million.

($1 = 0.9086 euros)

Reporting by Nick Carey, Editing by Louise Heavens