Mondi sold the packaging business in the Russian Federation to the Gotek group for 1.6 billion rubles.
[ad_1]
The Austrian manufacturer Mondi has reached an agreement on the sale of the packaging business in the Russian Federation to the Gotek group of companies. Three packaging processing plants will be sold for 1.6 billion rubles. The loss for the Austrian group will be €70–80 million (4.8–5.4 billion rubles).
The deal includes a corrugated board plant and two consumer flexibles plants, Mondi said in a press release (.pdf). The agreement does not include the company’s largest asset, JSC Mondi Syktyvkarsky LPK. Mondi expects permission to sell it to the structures of the owner of Pharmstandard, Viktor Kharitonin, for €1.5 billion (about 101.9 billion rubles).
It is alleged that the sale of assets to Goteku has been approved by the government commission for the control of foreign investment. The transaction is expected to close in the first half of 2023.
Mondi names Gotek the leading packaging manufacturer in the Russian Federation, headquartered in Moscow. The group employs 2.2 thousand people. The management company “Gotek” is located in Moscow, its branch is in Zheleznogorsk, Kursk region. The group includes five sites for the production of packaging – in Zheleznogorsk, Kursk region, Novomoskovsk, Tula region and St. Petersburg.
Why the Mondi deal to sell the Syktyvkar division is being discussed by the entire forestry industry – in Dmitry Butrin’s column “Due diligence according to circumstances”.
[ad_2]
Source link
