Mercedes-Benz said it had completed its exit from Russia, selling shares in its Russian subsidiaries to local investor Avtodom but with a buyback option to keep doors open for a possible return.
Mercedes agreed last year to sell shares in its industrial and financial services subsidiaries to local car dealer chain Avtodom, but was awaiting government approval.
Russia's Industry and Trade Minister Denis Manturov was cited by RIA news as saying the company had six years to exercise an option to buy back its shares at market price.
Mercedes on Wednesday confirmed it had agreed a time-limited repurchase option, but did not disclose the timeframe.
Avtodom said on Tuesday that it had closed a deal to buy Mercedes' Russian assets, including a plant in the Moscow region with a capacity of 20,000 cars a year, and would soon disclose its plans for resuming production.
Mercedes suspended exports to Russia and local manufacturing in early March 2022.
Deals to exit Russia by Western companies from so-called unfriendly countries -- those that imposed sanctions against Russia -- need approval from a government commission. Companies often insert buyback clauses that could one day see them return.