OREANDA-NEWS The Ministry of Industry and Trade of the Russian Federation will provide the new owner of Volkswagen assets with comprehensive support for the speedy restart of the automobile plant in Kaluga, the ministry said in a statement.

The Ministry of Industry and Trade recalled that on Friday Volkswagen completed the transfer of its stake in Volkswagen Group Rus LLC to a Russian investor. According to the statement of the German automaker, the buyer is the Art Finance company, associated with the president of the Avilon dealer Andrey Pavlovich. According to the Unified State Register of Legal Entities, the top manager owns 100% of its shares.

"All the shares of participation in the Russian divisions of the concern have been transferred to the new owner, and the jobs of all employees involved have also been preserved. The Ministry of Industry and Trade of Russia will provide the new owner with comprehensive support for the speedy restart of the production site in Kaluga," the ministry said.