Holding S8 Capital announced the completion of the deal to acquire the Russian assets of the German company Continental AG. The property of the Russian holding passed to a plant with a capacity of 4 million tires a year, located in the Kaluga region, and a distributor company of the finished products.

"S8 Capital acquired Russian assets of Continental with a view to their further development. Successful experience in IT transformations of businesses gives us reason to count on the relaunch of all production systems based on Russian IT technologies. In the near future, these assets will undergo a rebranding procedure", - said the managing director of the holding.

Also, Continental AG intends to sell its share in the joint venture with the Russian company Mettem, which produces tachographs in Chistopol (Tatarstan), and sell the Moscow offices of the ContiTech group sales department, which are located in Moscow.

Recall that in July 2022 S8 Capital acquired the Russian factory of the American Otis Elevator Company - a known global manufacturer of elevators. At present, the production is released under the brand of Meteor Lift.