MOSCOW — Russian automaker Sollers will purchase out Mazda 50 p.c stake of their three way partnership automobile meeting plant in Vladivostok, Sollers mentioned.

In a outcomes assertion on Thursday, Mazda mentioned the deal can be price one euro, bringing it the appropriate to purchase the asset again for a similar quantity inside three years.

Mazda, which took 1.8 p.c of the Russian automobile market final yr, mentioned in March it will cease supplying elements to the plant and manufacturing would ultimately stop, because it joined some Western producers leaving Russia over its actions in Ukraine.

The plant had the capability to make 50,000 automobiles a yr.

All approvals for the sale of Mazda’s stake within the plant to Sollers have been granted, a Sollers spokesperson mentioned, including, “We’re making ready to restart the plant subsequent yr with a brand new mannequin lineup.”