MOSCOW, February 6. /TASS/. Russian President Vladimir Putin has authorized the dealer Avtodom to buy Mercedes-Benz Bank Rus subsidiary of the German holding.

The executive order of the head of state was posted on the official web portal of legal information on Monday.

"To authorize performance of the transaction by joint stock company Avtodom on acquisition of 100% participation units in the authorized capital of Mercedes-Benz Bank Rus, the limited liability company, held by Mercedes-Benz Group AG," the document reads.

It was reported in late October 2022 that Mercedes-Benz intended to sell its stakes in Russian subsidiaries to Avtodom.