Ford to gain control of Russia JV and provide finance

April 10, 2015 11:45 AM

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Ford to gain control of Russia JV and provide finance

MOSCOW (Reuters) - U.S. auto maker Ford Motor Co (F.N) will take control of its Russian venture with Sollers (SVAV.MM) and provide it with additional financial support, the Russian firm said on Friday.

Ford is taking control in exchange for preferred shares in the Ford-Sollers venture, while its economic interest in the venture remains unchanged at 50 percent, Sollers said.

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