By Kim Richters
Mercedes-Benz Group AG is in the process of selling its activities in Russia to local investor Avtodom with a final deal currently under review by authorities, the car maker's finance chief said on Wednesday.
The German auto maker's Chief Financial Officer Harald Wilhelm said in a results call with analysts that there wouldn't be any additional effect on profit other than what's been disclosed.
So far this year, the car maker took a hit of 709 million euros ($797.4 million) related to the Russia business, a spokesman told Dow Jones Newswires, declining to comment on a potential price for the divestment.
In March, Mercedes-Benz said it would suspend exports to Russia and cease manufacturing there until further notice amid the country's war in Ukraine.
Write to Kim Richters at kim.richters@wsj.com
Corrections & Amplifications
This article was corrected at 06:45 a.m. ET to fix a figure. Mercedes-Benz booked expenses related to the Russia business of EUR709 million this year, not around EUR800 million.
(END) Dow Jones Newswires
10-26-22 0409ET