Putin Gives Mercedes Approval to Sell Russian Financial-Services Business

Putin Gives Mercedes Approval to Sell Russian Financial-Services Business

BERLIN—Russian President Vladimir Putin gave his approval for Mercedes-Benz Group to sell its Russia-based financial-services subsidiaries, bringing the German auto maker a step closer to selling its Russian businesses after Moscow’s invasion of Ukraine last year. Mercedes has been negotiating the sale of its financial-services subsidiaries and auto-assembly operations to Avtodom, a Russian auto dealership.