Factbox: Companies sell their businesses in Russia
26/08/2022 12:05
(Adds Baker Hughes, Bristol-Myers Squibb, Boreo, Jotun, Kerry
Group, Lindab, Mondi, Otis, Tetra Pak; updates throughout)
Aug 26 (Reuters) - Some Western companies have agreed to
sell their Russian assets or hand them over to local managers as
they scramble to comply with sanctions over the Ukraine conflict
and deal with threats from the Kremlin that foreign-owned assets
may be seized.
Below is a list of firms by sector that have sold their
businesses in Russia:
AUTOS
** British car distributor Inchcape INCH.L sold its
Russian business to local management urn:newsml:reuters.com:*:nL3N2WQ1IH
** Italian truck and bus maker Iveco IVG.MI transferred
its 33% stake in AMT truck assembly joint venture in Russia to
local partner urn:newsml:reuters.com:*:nL8N2YU31U
** French tyre maker Michelin MICP.PA intends to transfer
its activities in Russia to a new entity under local management
by the end of 2022 urn:newsml:reuters.com:*:nL8N2YF1I4
** French carmaker Renault RENA.PA sold its majority stake
in Avtovaz AVAZI_p.MM to a Russian science institute, and
transferred all shares in Renault Russia to the city of Moscow
urn:newsml:reuters.com:*:nL1N2YT0CL
BANKS
** Britain's HSBC HSBA.L agreed to sell its Russian
business to Expobank, subject to regulatory approvals in Russia
urn:newsml:reuters.com:*:nL1N2Z20RL
** Czech investment group PPF sold its Russian banking
assets, including consumer lender HCFB and its subsidiaries, to
investors led by Ivan Tyryshkin urn:newsml:reuters.com:*:nL2N2X90JC
** France's Societe Generale SOGN.PA sold its Russian
business Rosbank ROSB.MM to Interros Capital, a firm linked to
Russian oligarch Vladimir Potanin urn:newsml:reuters.com:*:nL2N2W90AJ
CONSUMER ELECTRONICS
** Swedish home appliance maker Electrolux Professional
EPROb.ST sold its Russian business to local management
urn:newsml:reuters.com:*:nL8N2YS106
** Whirlpool WHR.N agreed to sell its Russian operations
to Turkey's Arcelik ARCLK.IS , with closing expected in the
third quarter urn:newsml:reuters.com:*:nL4N2YF25G
ELECTRICAL COMPONENTS & EQUIPMENT
** Finland's Boreo BOREO.HE sold its 90% stake in YE
Russia to companies controlled by its current director Yrjö
Pönni urn:newsml:reuters.com:*:nFWN2ZL2TC
** Finnish elevator maker Kone KNEBV.HE expects to close
the sale of its Russian business to local management in the
fourth quarter urn:newsml:reuters.com:*:nL8N2YF198
** France's Schneider Electric SCHN.PA expects to close
the sale its Russian unit to local management by the end of 2022
urn:newsml:reuters.com:*:nL1N2YL08I
** U.S. elevator maker Otis OTIS.N sold its Russia
business to local investment firm Ice Development urn:newsml:reuters.com:*:nL1N2Z80T6
ENERGY
** Baker Hughes BKR.O agreed to sell its oilfield services
business in Russia to local management, with closing expected in
the second half of 2022 urn:newsml:reuters.com:*:nL4N2ZD2CP
** Italian utility Enel ENEI.MI sold its 56.43% stake in
Enel Russia to Lukoil LKOH.MM and private fund
Gazprombank-Frezia urn:newsml:reuters.com:*:nL8N2ZV3H5
** Norway's Equinor EQNR.OL transferred assets of its four
Russian oil and gas joint ventures to state-owned partner
Rosneft ROSN.MM , and agreed to exit the Kharyaga oil project
urn:newsml:reuters.com:*:nL5N2XH3QF
** Oil major Shell SHEL.L sold its Russian retail and
lubricants business, including 411 retail stations and the
Torzhok lubricants blending plant, to Lukoil urn:newsml:reuters.com:*:nL3N2X42CT
** Singapore-based commodities trader Trafigura sold its 10%
stake in Vostok Oil project in Siberia to Hong Kong-registered
trading firm Nord Axis urn:newsml:reuters.com:*:nL1N2YU0WC
FOOD & BEVERAGES
** Finland's Atria ATRAV.HE sold its fast food business in
Russia, Sibylla Rus, to Russian meat producer Cherkizovo
GCHE.MM urn:newsml:reuters.com:*:nL2N2X80HW
** Finland's Fazer sold its Russian unit to Moscow's
Kolomenskij Bakery and Confectionery Holding urn:newsml:reuters.com:*:nL2N2WR1P2
** Irish ingredients giant Kerry Group KYGa.I sold its
Russian subsidiary to local management and agreed to offload its
Belarusian unit to a local operator urn:newsml:reuters.com:*:nL8N2Z9ARB
** Fast food chain McDonald's MCD.N sold its Russian
business to its licensee Alexander Govor urn:newsml:reuters.com:*:nL3N2XB24Z
urn:newsml:reuters.com:*:nL4N2Z72FQ
** Finnish food and drinks company Paulig sold its operations
in Russia to private Indian investor Vikas Soi urn:newsml:reuters.com:*:nL2N2WX10Z
** Yum Brands YUM.N sold its Pizza Hut business in Russia
to a local operator urn:newsml:reuters.com:*:nL4N2YM2H3
** Finnish food processing firm Raisio RAIVV.HE sold its
consumer business in Russia to Copacker Agro urn:newsml:reuters.com:*:nL5N2WR6BP
** Finnish dairy producer Valio sold its Russian business to
GK Velkom urn:newsml:reuters.com:*:nL2N2WO0OG
INDUSTRIAL MACHINERY
** Polish measuring devices maker Apator's APTP.WA Powogaz
unit divested its entire stake in Russia-based AO Teplovodomer
urn:newsml:reuters.com:*:nFWN2XC0HL
** Danish industrial firm Danfoss agreed to sell its Russian
and Belarusian business to local management, with closing
expected in September urn:newsml:reuters.com:*:nL1N2YW0YH
** Switzerland's Oerlikon OERL.S sold its Russian
operations to local management urn:newsml:reuters.com:*:nFWN2XO0R6
** Finnish forest machine maker Ponsse PON1V.HE sold its
unit operating in Russia and Belarus to OOO Bison, a Russian
company set up a month earlier by the owner of its local
retailer urn:newsml:reuters.com:*:nL8N2YF1BW
** Finnish forestry firm Stora Enso STERV.HE sold its
three packaging plants and two sawmills to local management, and
expects to complete the transfer of its forest operations in the
second half of 2022 urn:newsml:reuters.com:*:nL2N2X80AE
PACKAGING
** Norwegian carton packaging and filling equipment supplier
Elopak ELO.OL agreed to sell its Russian unit JSC Elopak to a
company beneficially owned by the local management, with closing
expected in the second half of 2022 urn:newsml:reuters.com:*:nL8N2YW4D2
** Britain's Mondi MNDI.L expects to close the sale of its
largest Russian plant to an investment vehicle owned by Russian
billionaire Viktor Kharitonin in the second half of 2022
urn:newsml:reuters.com:*:nL4N2ZO2AO
** Swedish-Swiss firm Tetra Pak agreed to divest its Russian
business to local management, subject to regulatory approval
urn:newsml:reuters.com:*:nL8N2Z74OA
RETAIL
** Poland's LPP LPPP.WA sold its Russian company RE
Trading to a Chinese consortium urn:newsml:reuters.com:*:nL2N2XB1O6
** Beauty chain Sephora, owned by French luxury firm LVMH
LVMH.PA , is selling its Russian unit to the local general
manager urn:newsml:reuters.com:*:nP6N2WW01M
The clearance process is under way and is typically expected
to take a few months, a spokesperson told Reuters via email
** Finland's SOK sold the Saint Petersburg stores of its
Prisma retail chain to Russia's X5 FIVEDR.MM , and its hotels
business https://s-ryhma.fi/en/news/sok-sells-hotel-business-in-st-petersburg/BTpgc7zQGyCMYEAGjX3re
in the city to Russian investors Alexander Ermakov and Yury
Shumakovare urn:newsml:reuters.com:*:nL1N2Y30EX
OTHERS
** Biopharmaceutical firm Bristol-Myers Squibb BMY.N
transferred its commercial operations in Russia to a third-party
distributor urn:newsml:reuters.com:*:nL4N2Z83F5
** Dutch recruiter Brunel International BRUN.AS
transferred its Russian operations to local management
urn:newsml:reuters.com:*:nASM000LCA
** British tobacco group Imperial Brands IMB.L sold its
Russian business to "investors based in Russia" urn:newsml:reuters.com:*:nL2N2X90DA
** Norwegian paint maker Jotun, in which Orkla ORK.OL
holds a 42.6% stake, sold its Russian assets to industrial group
Atomstroykomplex urn:newsml:reuters.com:*:nL8N2ZE31W
** Canadian gold miner Kinross K.TO sold its Russian
assets to the Highland Gold Mining Group urn:newsml:reuters.com:*:nL4N2Y22OV
** Swedish ventilation systems maker Lindab LIAB.ST sold
its Russian unit to the local managing director urn:newsml:reuters.com:*:nL8N2ZY2KP
** Finnish training company Soprano SOPRA.HE sold MIF
Russia unit to local management urn:newsml:reuters.com:*:nFWN2XB0K1
** Finnish builder YIT YIT.HE sold its Russian operations
to Etalon Group ETLNGq.L urn:newsml:reuters.com:*:nL8N2XN15S
** Swiss insurer Zurich ZURN.S sold its Russian business
to 11 members of the local team urn:newsml:reuters.com:*:nL5N2XC0OH
(Additional reporting and compilation by Elena Vardon and
Elitsa Gadeva, with the contribution of Augustin Turpin, Enrico
Sciacovelli, Ina Kreutz, Agnieszka Gosciak
Editing by Andrew Heavens, Susan Fenton, Emelia Sithole-Matarise
and Milla Nissi)
((gdansk.newsroom@thomsonreuters.com; +48 58 7 69 66 00))