Russia’s Federal Antimonopoly Service has cleared Volkswagen International Finance to increase its stake in Volkswagen Group Rus to 55.14%.

The antitrust service allowed the Dutch company to acquire a 6.22% stake in Volkswagen Group Rus, Prime News said.

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Established in 1977, Volkswagen International Finance, fully-owned by Volkswagen AG, focuses on financing and investing into companies belonging to the concern.

Volkswagen Group Rus produces cars in Kaluga, central Russia. Its annual production capacity is 150,000 cars.

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