Mondi has agreed to sell its last plant in the Russian Federation – Kommersant
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Paper and packaging manufacturer Mondi has agreed to sell its last and largest mill in Russia. It is located in Komi, the transaction amount will be 80 billion rubles.
“Mondi announces that it has entered into an agreement to sell its last remaining business in Russia, Mondi Syktyvkar Joint Stock Company, together with two affiliated companies to Cesar Invest,” said the press release (.pdf).
The company clarified that the Federal Antimonopoly Service and the government subcommittee for control of foreign investment approved the sale. Cesar Invest is a subsidiary of the Moscow development company Sezar Group.
In Russia, the Mondi group owns three enterprises employing 5.3 thousand employees. The Mondi SYLPK enterprise in Komi is the most significant asset; it employs 4.5 thousand people. In May 2022 the group announced about the decision to sell its assets in the Russian Federation.
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