Page 96 - bne IntelliNews monthly country report Russia February 2024

one rouble as the French carmaker left the market after Moscow’s invasion of Ukraine. The Moskvich 3 model is reportedly a rebranded Chinese JAC Sehol X4 assembled in Moscow using kits purchased from its Chinese partner.
Hyundai to sell its sole Russian car plant for symbolic price. This adds the company to the list of major car producers leaving Russia following the full-scale invasion of Ukraine and a wave of sanctions, also including Mercedes-Benz, Volkswagen, Toyota, and others.
9.2.3 Aviation corporate news
Russia has created a fake airline, which is engaged in the transportation of illegal immigrants to Europe via Belarus it was reported on December 24. This is reported by the publication Bild. The investigation revealed that the airline called Southwind Airlines is based in Antalya and was created after the outbreak of war in Ukraine, but three airplanes and most of the company's employees are from Moscow-based Nordwind Airlines. Nordwind Airlines is owned by Pegas Touristik, and its owners are Russians with Turkish roots.
9.2.4 Construction & Real estate corporate news
9.2.5 Retail corporate news
Raiffeisen Bank International (RBI) wants to acquire the 27.8% stake in the construction group Strabag through its Russian subsidiary, which the Russian Strabag major shareholder Oleg Deripaska has put up for sale. The RBI announced on Tuesday evening that 1.5bn euros would flow for a total of 28,500,000 Strabag shares. The implementation of the acquisition is still dependent on several checks and approvals from the authorities.
The first ASP store with Adidas and Reebok branded products will open in Moscow on December 9, head of marketing of Lestate Company (developing the ASP chain) Ilya Komissarov told TASS on December 7. "The store will open on December 9 in the Belaya Dacha outlet. [The area] is 1,000 square meters - the largest Adidas store in Russia," Komissarov said. Adidas and Reebok collections will be presented in the store. "We would like to keep a mono-brand structure, because the outlet and buyers at large are more accustomed to it," he added. Adidas informed about the suspension of operations in Russia on March 9, 2022. Retail stores of the chain were closed on March 14.
After the nationalization of Danone and the appointment of Yakub Zakriev, Ramzan Kadyrov's nephew, as CEO of "Danone Russia," the company hasn't collapsed. Instead, it has entered a state of inertia, according to the Financial Times. The new owners have a nominal role in
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