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In 2022, Sollers top managers bought out the company’s shares for 4 billion rubles

Thus, in June, 77.6% of the shares were purchased from the former owner Vadim Shvetsov through his subsidiary Serenity Invest LLC. The transaction document dated June 20 provides for the repurchase of up to half of the shares in a year after the acquisition of ownership rights.

The statements of Alter Invest, which is now the main controlling shareholder of Sollers, also indicate that as of the end of 2022 the investments in the company were revalued (from 4 billion rubles to 5.35 billion rubles) taking into account the current market value.

The transaction of purchasing assets of Sollers from Shevtsov took place in summer. As the company’s co-owner Zoya Kajika explained, the deal was planned even before the EU imposed sanctions against UAZ.

Earlier, the Chinese automotive concern Chery refused to localize production at UAZ’s Ulyanovsk Automobile Plant due to the sanctions refusal.

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