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Advance Capital is pleased to announce the sale of 100% of the Russian business of Magna International (TSX: MG, NYSE: MGA), one of the world’s largest automotive components manufacturers. Magna International is a Fortune 500 company, ranking among the 500 largest companies globally.

In Russia, Magna’s business comprised six manufacturing facilities producing exterior components (Kaluga, Nizhny Novgorod), body components (Saint Petersburg), and automotive seating systems (Nizhny Novgorod, Naberezhnye Chelny). These facilities supplied automotive components to Russian plants of leading global OEMs, including Volkswagen, Ford, Hyundai, Toyota, General Motors, Nissan, Stellantis, GAZ, and AvtoVAZ. One of the key strengths of Magna’s Russian operations was its strong in-house engineering expertise. In 2021, the revenue of Magna International’s Russian business exceeded USD370 million.

Artur Shubaev, Partner and Executive Director at Advance Capital:

“We were pleased to assist Magna International in this landmark deal for the Russian automotive components market. We hope that, with a new shareholder, the Russian business will be able to attract new customers and promptly restore production, leveraging the strong engineering expertise of the local team.”

Advance Capital acted as the exclusive financial advisor to Magna International.

The deal value is not disclosed.