RBC: the authorities did not agree on the sale of the Snegurochka paper manufacturer owned by the Austrians
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The Russian authorities have not approved the sale of the Syktyvkar timber complex (LPK) in Komi, owned by the Austrian Mondi, reports RBC. The structure of the co-owner of Pharmstandard, Viktor Kharitonin, was planning to buy the timber complex for 95 billion rubles. According to sources of the publication, the reason for the refusal could be too high a price.
Syktyvkar LPK annually produces more than 1.1 million tons of office, offset and newsprint paper, containerboard and dry market pulp. The company’s most famous brand is Snegurochka paper.
RBC refers to the data of one of the applicants for the asset, as well as a source in the government and a top manager of one of the largest Russian timber companies. An unnamed official claims the deal was rejected by the Federal Antimonopoly Service. Another source said that the approval was not given by the government commission for the control of foreign investment. She was allegedly not satisfied with the fact that the price offered by the buyer turned out to be much higher than that of other applicants.
Mondi’s press service said that for the sale of the Syktyvkar timber complex to the structure of Mr. Kharitonin, it is necessary to obtain approval from the government commission, as well as the antimonopoly authorities. “The process of obtaining these permits is still ongoing,” the company says.
On Mondi’s plans to sell Syktyvkar Pulp and Paper Mill became known in late August. The company was ready to close the deal in the second half of the year. Mid-December Mondi sold packaging business in the Russian Federation for the Gotek group for 1.6 billion rubles.
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