OREANDA-NEWS  The Russian authorities allowed Continental to sell the tire plant in Kaluga to S8 Capital. The value of the transaction may amount to 7-10 billion rubles, which is comparable to €87 million, in which the asset was estimated by Continental itself. However, the deal has not been closed yet, because Continental has requested approval from the American export control regulator. According to Kommersant, the Russian authorities have approved a deal to sell Russian assets of Continental to Armen Sarkisyan's S8 Capital company. Kommersant's interlocutors in the market say that the deal was approved by both the government commission and the FAS a few weeks ago.

At the same time, according to them, the companies are waiting for the approval of the American regulator — the Bureau of Industry and Security (BIS) of the US Department of Commerce to close the deal, we are talking about a re-export license.

The request for a license was submitted by Continental.

Continental did not comment on this information, only saying that the company is considering various strategies in relation to its Russian assets, including a controlled exit from the market. Now the representative offices of the company, in particular Continental Tires Rus LLC and Continental Kaluga LLC, continue to operate normally, fulfilling their obligations to customers, employees and partners in full. S8 Capital declined to comment. The office of the Government of the Russian Federation and the FAS also did not comment on the status of the transaction. Kommersant sent a request to BIS.

BIS issues licenses for transactions related to goods subject to export control, as well as those that can be carried out in the interests of the Government of the Russian Federation or Belarus or the defense sector.