Factbox: Companies sell their businesses in Russia
10/10/2022 15:54
(Adds Afry, Air Liquide, Ball Corp, Bunge, Electrolux, Emerson
Electric, Halliburton, Huhtamaki, Softline, Sony, Sylvamo,
Traton; updates Equinor, Elopak, Sephora, TotalEnergies,
Whirlpool)
Oct 10 (Reuters) - Some Western companies have agreed to
sell their Russian assets or hand them over to local managers as
they seek 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
** Italian truck and bus maker Iveco IVG.MI transferred its
33% stake in its AMT truck assembly joint venture in Russia to a
local partner
** French tyre maker Michelin MICP.PA intends to transfer
its activities in Russia to a new entity under local management
by end-2022
** 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
** MAN Truck & Bus and Scania, units of German truck maker
Traton 8TRA.DE , expect to sell their sales companies in Russia
to local partners along with Scania's Russian financing business
by Q1 2023
BANKS
** Britain's HSBC HSBA.L agreed to sell its Russian
business to Expobank, subject to regulatory approvals in Russia
** Czech investment group PPF sold its Russian banking
assets, including consumer lender HCFB and its subsidiaries, to
investors led by Ivan Tyryshkin
** France's Societe Generale SOGN.PA sold its Russian
business Rosbank ROSB.MM to Interros Capital, a firm linked to
Russian oligarch Vladimir Potanin
CONSUMER ELECTRONICS
** Swedish home appliance maker Electrolux ELUXb.ST
transferred its business in Russia to local management
** Its Electrolux Professional EPROb.ST branch also sold
its Russian business to local management
** Whirlpool WHR.N sold its Russian operations to Turkey's
Arcelik ARCLK.IS
ELECTRICAL COMPONENTS & EQUIPMENT
** Finland's Boreo BOREO.HE sold its 90% stake in YE Russia
to companies controlled by its current director Yrjö Pönni
** U.S. industrial firm Emerson Electric EMR.N agreed to
sell its Russia business to the local management
** Finnish elevator maker Kone KNEBV.HE expects to close
the sale of its Russian business to local management in Q4 2022
** France's Schneider Electric SCHN.PA expects to close the
sale its Russian unit to local management by end-2022
** U.S. elevator maker Otis OTIS.N sold its Russia business
to local investment firm Ice Development
ENERGY
** French industrial gases producer Air Liquide AIRP.PA
agreed to shift its Russian assets to local management, subject
to regulatory approvals in Russia
** Baker Hughes BKR.O agreed to sell its oilfield services
business in Russia to local management, with closing expected in
H2 2022
** Italian utility Enel ENEI.MI sold its 56.43% stake in
Enel Russia to Lukoil LKOH.MM and private fund
Gazprombank-Frezia
** Norway's Equinor EQNR.OL transferred assets of its
Russian oil and gas joint ventures to state-owned partner
Rosneft ROSN.MM , and its 30% stake in the Arctic Kharyaga
oilfield to state-controlled Russian operator Zarubezhneft
** U.S. oilfield services firm Halliburton HAL.N sold its
Russia operations to a management team made up of former
employees
** Oil major Shell SHEL.L sold its Russian retail and
lubricants business to Lukoil
** Singapore-based commodities trader Trafigura sold its 10%
stake in Vostok Oil project in Siberia to Hong Kong-registered
trading firm Nord Axis
** Total Energies TTEF.PA sold its remaining 20% interest
in the Kharyaga oil project to Zarubezhneft, and its 49% stake
in Terneftegaz to joint venture partner Novatek
FOOD & BEVERAGES
** Finland's Atria ATRAV.HE sold its fast food business in
Russia, Sibylla Rus, to Russian meat producer Cherkizovo
GCHE.MM
** Finland's Fazer sold its Russian unit to Moscow's
Kolomenskij Bakery and Confectionery Holding
** 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
** Fast food chain McDonald's MCD.N sold its Russian
business to its licensee Alexander Govor
** Finnish food and drinks company Paulig sold its operations
in Russia to private Indian investor Vikas Soi
** Yum Brands YUM.N sold its Pizza Hut business in Russia
to a local operator
** Finnish food processing firm Raisio RAIVV.HE sold its
consumer business in Russia to Copacker Agro
** Finnish dairy producer Valio sold its Russian business to
GK Velkom
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, subject to approval
by shareholders and regulatory approvals in Russia
** Switzerland's Oerlikon OERL.S sold its Russian
operations to local management
** Finnish forest machine maker Ponsse PON1V.HE sold its
unit operating in Russia and Belarus to OOO Bison
** Finnish forestry firm Stora Enso STERV.HE sold three
packaging plants and two sawmills to local management, and
expects to complete the transfer of its forest operations by
end-2022
PACKAGING
** U.S. aluminium beverage can manufacturer Ball Corp BLL.N
sold its beverage packaging business in Russia to Arnest Group
** Norwegian carton packaging and filling equipment supplier
Elopak ELO.OL sold its Russian unit to a company beneficially
owned by local management
** Finland's Huhtamaki HUH1V.HE sold its Russian operations
to Espetina Ltd, a holding company owned by Alexander Govor and
Iury Kushnerov
** Britain's Mondi MNDI.L agreed to sell its largest
Russian plant to an investment vehicle owned by Russian
billionaire Viktor Kharitonin, subject to approvals by
shareholders and the Russian regulator
** U.S. paper product company Sylvamo SLVM.N sold its
Russian operations to Pulp Invest LLC
** Swedish-Swiss firm Tetra Pak agreed to divest its Russian
business to local management, subject to regulatory approvals
RETAIL
** Poland's LPP LPPP.WA sold its Russian company RE Trading
to a Chinese consortium
** Beauty chain Sephora, owned by French luxury firm LVMH
LVMH.PA , sold its Russian unit to the local general manager
** Finland's SOK sold the Saint Petersburg stores of its
Prisma retail chain to Russia's X5 FIVEDR.MM , and its hotels
business in the city to Russian investors Alexander Ermakov and
Yury Shumakovare
OTHERS
** Swedish business services firm Afry AFRY.ST expects to
divest its Russian business to local management in Q4 2022
** Biopharmaceutical firm Bristol-Myers Squibb BMY.N
transferred its commercial operations in Russia to a third-party
distributor
** Dutch recruiter Brunel International BRUN.AS transferred
its Russian operations to local management
** U.S. agricultural commodities trader Bunge BG.N agreed
to sell its oilseed processing business in Russia to Karen
Vanetsyan, the controlling shareholder of Exoil Group
** British tobacco group Imperial Brands IMB.L sold its
Russian business to "investors based in Russia"
** Norwegian paint maker Jotun, in which Orkla ORK.OL holds
a 42.6% stake, sold its Russian assets to industrial group
Atomstroykomplex
** Canadian gold miner Kinross K.TO sold its Russian assets
to the Highland Gold Mining Group
** Swedish ventilation systems maker Lindab LIAB.ST sold
its Russian unit to the local managing director
** London-listed IT firm Softline SFTLq.L will transfer its
Russian business to its founder Igor Borovikov in November
** Japanese technology and entertainment group Sony 6758.T
sold the Russian branch of its music business to local
management
** Finnish training company Soprano SOPRA.HE sold its MIF
Russia unit to local management
** Finnish builder YIT YIT.HE sold its Russian operations
to Etalon Group ETLNGq.L
** Swiss insurer Zurich ZURN.S sold its Russian business to
11 members of the local team
(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))