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The Russian Federation’s Federal Anti-Monopoly Service and Government Sub-Commission for the Control of Foreign Investments have approved the deal
Mondi plc announces that it has entered into an agreement to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities to Sezar Invest LLC for a total cash consideration of RUB 80 billion (EURO 775 million) to be paid in a series of instalments.
The Russian Federation’s Federal Anti-Monopoly Service and Government Sub-Commission for the Control of Foreign Investments have approved the deal, said Mondi in a statement. Mondi also confirms that it has been informed that there are no further outstanding regulatory conditions in respect of the assets.
The total cash consideration of RUB 80 billion will be paid to Mondi in RUB and in six monthly instalments. The first four monthly payments will be for RUB 13.5 billion each, with the first payment made by the end of September 2023. Once the first four monthly instalments have been paid to Mondi, expected to be by the end of December 2023, the sale will be complete and ownership of Mondi Syktyvkar will transfer to Sezar Invest and, accordingly, Mondi will have completed its exit from Russia.