13.03.2023, 13:31
S8 Capital wants to acquire Russian assets of Continental
Source: OREANDA-NEWS
OREANDA-NEWS Armen Sarkisyan's S8 Capital wants to acquire German Continental's assets in Russia, including a tire manufacturing plant in Kaluga. The investor has already become the owner of the plant that produced Otis elevators in Russia. Continental reported that they are at an advanced stage of negotiations on leaving the Russian Federation. Armen Sargsyan appeared in the media as a partner of the founder of Avilon car dealer Alexander Varshavsky. Now the dealer is in the process of buying another Kaluga asset in the automotive industry, the Volkswagen plant.
Armen Sarkisyan's S8 Capital wants to acquire German Continental's assets in Russia, including a tire manufacturing plant in Kaluga. The investor has already become the owner of the plant that produced Otis elevators in Russia. Continental reported that they are at an advanced stage of negotiations on leaving the Russian Federation. Armen Sargsyan appeared in the media as a partner of the founder of Avilon car dealer Alexander Varshavsky. Now the dealer is in the process of buying another Kaluga asset in the automotive industry, the Volkswagen plant. S8 Capital wants to acquire Continental's Russian assets, in particular the plant in Kaluga, two Kommersant interlocutors familiar with the transaction said. Continental CEO Nikolai Setzer said on March 8 that the company was discussing the sale of assets. "The war is the reason for our controlled withdrawal from Russia. This means the sale of our activities, including our plant in Kaluga. We are at an advanced stage of the sale process," he said.
S8 Capital itself develops IT solutions in the financial sector, retail, telecommunications, e-commerce and media, owns Stoloto, a distributor of state lotteries. The media called Armen Sargsyan a business partner of Alexander Varshavsky, the owner of the Avilon car dealer. The latter, for example, participated in the launch of the S8 Capital online car leasing service for individuals Next.Car. Now Avilon is buying the Russian Volkswagen plant in Kaluga (see Kommersant of March 1). But for S8 Capital, this is not the first experience of acquiring assets of companies leaving the Russian Federation: in the summer of 2022, the Ministry of Industry and Trade announced that the group had acquired the Russian business of the American elevator manufacturer Otis Worldwide Corporation. Formally, the buyer was the investment company Ice Development.
Armen Sarkisyan's S8 Capital wants to acquire German Continental's assets in Russia, including a tire manufacturing plant in Kaluga. The investor has already become the owner of the plant that produced Otis elevators in Russia. Continental reported that they are at an advanced stage of negotiations on leaving the Russian Federation. Armen Sargsyan appeared in the media as a partner of the founder of Avilon car dealer Alexander Varshavsky. Now the dealer is in the process of buying another Kaluga asset in the automotive industry, the Volkswagen plant. S8 Capital wants to acquire Continental's Russian assets, in particular the plant in Kaluga, two Kommersant interlocutors familiar with the transaction said. Continental CEO Nikolai Setzer said on March 8 that the company was discussing the sale of assets. "The war is the reason for our controlled withdrawal from Russia. This means the sale of our activities, including our plant in Kaluga. We are at an advanced stage of the sale process," he said.
S8 Capital itself develops IT solutions in the financial sector, retail, telecommunications, e-commerce and media, owns Stoloto, a distributor of state lotteries. The media called Armen Sargsyan a business partner of Alexander Varshavsky, the owner of the Avilon car dealer. The latter, for example, participated in the launch of the S8 Capital online car leasing service for individuals Next.Car. Now Avilon is buying the Russian Volkswagen plant in Kaluga (see Kommersant of March 1). But for S8 Capital, this is not the first experience of acquiring assets of companies leaving the Russian Federation: in the summer of 2022, the Ministry of Industry and Trade announced that the group had acquired the Russian business of the American elevator manufacturer Otis Worldwide Corporation. Formally, the buyer was the investment company Ice Development.
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