Reuters learned about Govor’s plans to buy Huhtamaki’s Russian business
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Entrepreneur Alexander Govor is going to buy the Russian business of the Finnish manufacturer of packaging and disposable tableware Huhtamaki, informs Reuters, citing a source close to the talks. The deal will amount to 151 million euros, the agency noted.
Govor plans to use for the transaction the funds received as a loan from Sberbank, as well as using Espentina Limited, a company registered in Cyprus, the agency’s interlocutor said.
The agency noted that Espentina will pay the cost of the Finnish company from its account. Govor and Huhtamaki declined to comment.
April 14 Huhtamaki made a decision stop all operations in Russia.
Huhtamaki is considered the world’s leading manufacturer of disposable tableware and food service packaging. The manufacturer operates in 38 countries, including Russia. Huhtamaki has about 700 employees in Russia. She has been developing her business in the country since 1993, she also has factories in Ivanteevka near Moscow and in Tatarstan. Russia accounted for 3% of the company’s total net sales.
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