BRUSSELS—Bridgestone Europe N.V./S.A. has completed the sale of its Russian assets to S8 Capital, a Russian diversified holding company, for undisclosed terms.
The agreement, which has received "all necessary regulatory approvals," includes Bridgestone's 7-year-old tire plant in Ulyanovsk, Russia, and a sales and marketing office in Moscow, Bridgestone said Dec. 20.
Bridgestone, which has been present in Russia since 1998, suspended all manufacturing activities in Russia in March 2022, following Russia's invasion of Ukraine and subsequent military occupation of much of eastern Ukraine.
Bridgestone said it expects the impact of the sale on its financial bottom line to be "minor."