German chemical and industrial concern Henkel has signed an agreement to sell its business in Russia to a consortium of local investors.
This is stated in the company’s statement.
The concern recalled that in April 2022, it announced its decision to withdraw from Russia.
The consortium that buys Henkel’s business in Russia includes Augment Investments, Kismet Capital Group and Elbrus Services. “All buyers have established and long-term business relationships in Western countries and are not subject to EU or US sanctions,” the statement said.
The agreed purchase price is 54 billion rubles, corresponding to approximately 600 million euros. The company added that the relevant Russian authorities have already approved the transaction; the final closing of the deal has yet to take place.
Earlier, Henkel promised to cease operations in Russia by the end of the first quarter. After Russia started a criminal war against Ukraine, the German chemical and industrial concern Henkel has transferred its Russian and Belarusian assets to the “for sale” category.
In April 2022, Henkel announced its decision to initiate the process of the company’s exit from the Russian market.
Henkel’s brand portfolio includes Persil, Bref, Pril, Laska, Schwarzkopf, Syoss, Fa, Ceresit, Moment, Loctite, and other adhesives.
When Ukrainian drones struck a Tuapse oil refinery three times in two weeks, the Kremlin…
Russia's Matryoshka disinformation network moved within hours of the April 25 White House Correspondents' Dinner…
MEPs voted 446 to 63 on Thursday to demand the swift establishment of a special…
Two SIS officers held in Russia were released on 28 April as part of a…
Geoffrey Cox, who served as Attorney General under both Theresa May and Boris Johnson, was…
The European Parliament voted 418 to 207 on Wednesday to freeze EU funds for Slovakia…