VIENNA – Sberbank Rossii, Russia’s largest bank, and the City of Moscow government sign a letter of intent to establish a contract manufacturer of cars and commercial vehicles. Plans call for the assembly of Jeep and Fiat vehicles, as well as other brands. The bank and city plan to form a joint venture called MosAvtoZil, in which Sberbank would hold a 51% stake and the City of Moscow a 49% share. The JV is expected to consist of two manufacturing sites. It will include ...
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