Ford and Sollers form new JV in Russia; letter of intent for $1.4B in long term financing
Green Car Congress
JUNE 9, 2011
Ford Motor Company and Sollers OJSC have signed agreements to establish a 50-50-owned joint venture in Russia. Ford and Sollers also signed a Letter of Intent with Vnesheconombank (VEB), the Russian development bank, for long-term financing for Ford Sollers of 39 billion Russian roubles, or approximately $1.4
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