Toilet paper maker Zewa sells Russian business
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Swedish manufacturer of personal care products Essity (brands Zewa, Libresse, Libero, Tena, Tork) announced the sale of the Russian business of the New Technologies company Igor Shilov, the transaction value was 1.2 billion Swedish kronor ($117.3 million), the report said. .
A month ago, Essity announced that a buyer had been found and the company was awaiting approval of the deal by a government commission. In 2021, the company earned about $297 million in Russia. Revenue for 2022 was not disclosed, but the holding said that over the past year, the company’s assets in Russia have depreciated by about $157 million.
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