OREANDA-NEWS  The Russian holding company S8 Capital has completed a deal to purchase the assets of the German company Bosch in Engels. 

Under the contract, Bosch transferred 100 percent of control over three enterprises in the Saratov region — for the production of spark plugs, power tools and heating boilers. S8 Capital clarified that they will resume the operation of the plants and will invest in their further development, and all employees and production technologies will be preserved. Within six months from the date of the transaction, the enterprises will be rebranded.

Torsten Schubert, Managing Director of S8 Capital, noted that the acquisition of new assets "will expand production and scientific and technological cooperation between industrial sites and increase the level of their localization." As a result, the holding will receive an incentive for development, increasing the efficiency of production capabilities. Bosch decided to suspend production in Russia, as well as to stop deliveries to the country in March 2022 after the start of its own. In August, it became known about Bosch's plans to sell its plants in Russia, but then the company did not confirm this information.

Earlier it was reported that S8 Capital may become the new owner of the plant of the German manufacturer of tires and automotive components Continental in Kaluga. Representatives of the company said that it is at an advanced stage of the sale process, but the necessary permits from US regulatory authorities have not yet been received.