Ford Sells Stake in Russia Business, Joining Carmaker Exodus (2)

Ford Motor Co. sold its 49% stake in the Sollers Ford joint venture, finalizing its exit from Russia after suspending operations in the country earlier this year after Moscow’s invasion of Ukraine.

Shares of the automaker will be transferred to the venture for a nominal value of €1 ($1), a Ford spokesman said Wednesday. The company will retain the option to buy back the shares within a five-year period “should the global situation change,” it said in a statement.

Ford already had halted Russian commercial van manufacturing, supply of parts, information technology and engineering support in March. It follows ...