Automaker Sollers' Owner Moving Registration Back to Russia

Newswire

MOSCOW, April 10 (Reuters) - The majority shareholder in Russian carmaker Sollers has moved his holding back to Russia, becoming the first major businessman to respond to an asset repatriation drive launched by the Kremlin against a backdrop of Western sanctions. Vadim Shvetsov, who holds 53.8 percent of the firm's equity, shifted his holding from Cyprus-incorporated Newdeal Investments Ltd to Moscow-based OJSC Erfiks, the carmaker said late on Wednesday. Sollers, which has production ...

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