Magna divests one- fifth stake to Russian Machines
Magna to enter Russian automotive market
Magna International has divested one-fifth of its stake to Russian Machines. Under the arrangement, 20m Magna Class A shares have been acquired by M Unicar (Newco), through its indirectly owned subsidiary 2143455 Ontario, for approximately US $1.54bn. The 2143455 Ontario is a Canadian holding company funded by a subsidiary of Russian Machines.
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