Bridgestone sells its assets in Russia

Japanese tire manufacturer Bridgestone has announced the sale of its Russian assets to S8 Capital, a Russian diversified holding company.

The company reported this, Ukrinform saw.

The transaction has received all the necessary regulatory approvals and includes the sale of a tire plant in Ulyanovsk and a sales and marketing department in Moscow.

As part of the transaction, about a thousand employees of the company will be transferred to the buyer.

As Ukrinform reported, last March, Bridgestone announced the suspension of its plant in Ulyanovsk because of Russia's war against Ukraine.

In October of the same year, Bridgestone announced that it was looking for a buyer for its business in Russia.