“This sale is the latest step towards the exit of RCI Banque SA from the Russian Federation in accordance with the decision made by the Renault Group in 2022,” the company said in a statement.
It is noted that the details of the transaction are not subject to disclosure. Insight said the acquisition will strengthen the emerging leasing holding as well as diversify the group’s assets.
In March, Insight acquired the Russian leasing arm of agricultural equipment manufacturer Deere & Co. Insight stated that the management team of the leasing subsidiary will be retained and that it is always ready to consider acquiring additional assets, primarily within the leasing industry.
What is known about this company
RCI Banque SAtrading under the name Mobilize Financial Services, is an international company headquartered in France, which is a subsidiary of Renault and part of the Renault Mobilize division.
RCI Banque specializes in automotive finance, insurance and related activities for the Renault Group brands worldwide, for the Nissan Group brands (Nissan, Infiniti, Datsun) in Europe, Russia, Asia and South America, and for Mitsubishi Motors in the Netherlands.
International business exits the Russian market
After Western countries imposed sanctions against the Russian Federation, a number of foreign brands decided to sell their business in Russia. For example, the French tire manufacturer Michelin sold its plant in Russia.
Also, the Austrian company Swarovski completely stopped all its activities in Russia.
2023-08-14 18:24:43
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