Henkel will be able to buy back Russian assets within 10 years
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The German manufacturer of cosmetics and household chemicals Henkel has a buyback option for Russian enterprises within 10 years. The company’s CEO Carsten Knobel spoke about this in an interview with the Rheinische Post newspaper.
“We have agreed on the option to buy the business over the next ten years as part of a deal,” he said (quote according to Reuters).
At the same time, Knobel added, the cessation of hostilities in Ukraine will not be enough to return the company to the Russian market. According to him, in order for Henkel to buy out Russian assets, relations with Russia “must change radically.”
May 4 reported on the closing of a transaction for the sale of assets in Russia to a consortium of local investors. Its amount amounted to 54 billion rubles. (about 600 million euros). The consortium, which became the new owner of Henkel’s business in Russia, included Augment Investments, Kismet Capital Group and Elbrus Services.
In Russia, Henkel produced Persil, Losk, Deni, Laska, Pemos, Pemolux, Vernel, etc. detergents and cleaners, as well as adhesives (including Moment) and surface treatment products. The company owned 11 enterprises in the country.
On leaving Russia Henkel announced in April 2022 against the backdrop of the start of a special operation in Ukraine. In March, the German manufacturer announced the suspension of all planned investments in Russia.
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