Gotek completed the purchase of three Mondi enterprises for 1.6 billion rubles
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The Austrian manufacturer Mondi completed the sale of three Russian enterprises to the Gotek group for 1.6 billion rubles. Information about this was confirmed by both companies.
“Gotek Group has received all necessary permits. The sale has now been completed. Mondi received a net proceeds of €30.4 million from this sale into its account with an Austrian bank.” says in Mondi’s post. The company clarified that the net proceeds from the sale of assets will be distributed among shareholders after the manufacturer finally leaves Russia.
Also in Gotek confirmed completion of the transaction, for which the consent of the FAS and the government commission for the control of foreign investments was obtained. As a result of the deal, Gotek will acquire a corrugated packaging plant in the Lipetsk region and two flexible packaging plants in the Yaroslavl and Sverdlovsk regions.
On June 5, Mondi announced that they were withdrawing from an agreement on the sale of their main Russian enterprise in Syktyvkar with the investment company Augment Investments Limited of Pharmstandard shareholder Viktor Kharitonin. This decision was explained by the “lack of progress in obtaining the necessary permits to complete the transaction.” At the same time, the company emphasized that the board still intends to sell the asset and continues to evaluate all alternative options.
On May 4, Mondi announced their desire to sell the Russian business. The company noted that Mondi’s Russian facilities have coped with supply chain constraints, but the situation is still unstable, so there may be interruptions in the production of paper and pulp in the future. According to Mondi, the company’s losses as a result of leaving the market will amount to 70-80 million euros. About the agreements with Gotek on the sale of three enterprises became known in December 2022
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