MOSCOW, November 24. /TASS/. In a statement on Thursday, NAMI, the Central Scientific Research Automobile and Automotive Engines Institute of Russia, revealed that it had acquired all of Nissan’s Russian assets.

"FSUE NAMI and the Nissan group of companies have signed an agreement on purchasing the assets of Nissan Manufacturing Rus. As a result of the transaction, 100% of Nissan’s assets in Russia […] passed into the ownership of the Russian Federation as represented by FSUE NAMI under the authority of the Russian Industry and Trade Ministry, including the production and research facilities of Nissan in St. Petersburg, as well as its sales and marketing center in Moscow," the statement reads.

Closing the transaction will make it possible to maintain crucial know-how at enterprises, the production cycle and jobs, NAMI noted. Avtovaz will handle the post-sales servicing of the Japanese-brand vehicles, as well as the supply of components and spare parts, according to the statement.

The press service of Russia’s Industry and Trade Ministry reported in early October that Nissan’s executive committee had approved the sale of its Russian assets Nissan Manufacturing Rus to NAMI. The deal includes an option to buy back the stake of Nissan Manufacturing Rus, which can be exercised within the next 6 years, the ministry said then.