Factbox: Companies sell their businesses in Russia

UNIQA Insurance AG

25/08/2023 11:52

(Adds Heineken, Uniqa)
       Aug 25 (Reuters) - Some Western companies have agreed to
sell their Russian assets or hand them over to local managers as
they take action to comply with sanctions over the Ukraine
conflict and respond to threats from the Kremlin that
foreign-owned assets may be seized.
    Below are some of the companies by sector that have secured
deals to sell their businesses in Russia:

AUTOS
    CONTINENTAL AG  CONG.DE  
    The car parts manufacturer said on May 22 it has sold its
Russian tyre plant to Russian holding company S8 Capital.
    RENAULT  RENA.PA 
    The French carmaker sold its majority stake in Avtovaz
 AVAZI_p.MM  to the Russian state in 2022, reportedly for only
one rouble but with a six-year option to buy it back.
    Renault's RCI Banque division said on August 14 it had
agreed the sale of its Russian leasing subsidiary to Insight
Investment Group LLC, but did not disclose any details regarding
the agreement.
    VOLKSWAGEN  VOWG_p.DE  
    The German carmaker said on May 19 it has completed the sale
of its Kaluga production plant and its local subsidiaries to
Art-Finance LLC, supported by autodealer group Avilon.

BANKS
    SOCIETE GENERALE  SOGN.PA 
    The French bank sold its Russia business Rosbank in May of
last year to Russia's Interros Capital, taking a 3.1 billion
euro ($3.38 billion) hit.

ENERGY
    BASF  BASFn.DE 
    The German chemicals group said in January it would take a
7.3 billion euro writedown as its Wintershall Dea energy
business pulls out of Russia. BASF owns 67% of the voting rights
in Wintershall, with the rest being held by Letter One, a
holding company controlled by Mikhail Fridman.
    SHELL  SHEL.L 
    The British energy and petrochemical company last year
completed the sale of its Russian retail and lubricants business
to Russia's Lukoil  LKOH.MM . 
    Russia's government has approved the sale of Shell's former
27.5% stake in the Sakhalin-2 energy project to Russian energy
firm Novatek  NVTK.MM  for 94.8 billion roubles, a government
order showed on April 12.

FOOD & BEVERAGES
    AB INBEV  ABI.BR 
    The brewer said on April 22, 2022 it would sell its
non-controlling stake in its Russian joint venture AB InBev
Efes, taking a $1.1 billion impairment charge.    
    HEINEKEN  HEIO.AS  
    Dutch brewer Heineken said on August 25 it had completed its
exit from Russia by selling its operations there to Russia's
Arnest Group for a symbolic one euro.

MINING
    KINROSS  K.TO 
    The Toronto-based miner in June last year sold all of its
Russian assets to the Highland Gold Mining Group for $340
million in cash, half of the previously announced price.
    
RESTAURANTS & RETAIL
    AMREST  EATP.WA 
    The restaurant operator said on May 15 it has completed the
sale of its KFC restaurant business in Russia to Smart Service
for 100 million euros. 
    AUTHENTIC BRANDS GROUP  AUTH.N 
    The Russian business of Authentic Brands Group-owned Reebok
has been taken over by Turkey's FLO retailing, Kommersant daily
reported in May of last year.
    INDITEX  ITX.MC 
    Russian government had approved a deal for Spain's Inditex
 ITX.MC  to sell its Russian business to a UAE-based buyer.
Inditex had more than 500 stores in the country and agreed to
sell them in October.
    MCDONALD'S CORP  MCD.N 
    The U.S.-based restaurant chain sold last year its business
in Russia after more than 30 years of operating in the country,
taking a charge of $1.28 billion.
    
OTHERS
    ESSITY  ESSITYa.ST 
    The Swedish hygiene company said on July 17 it had completed
the divestment of its Russian operations for about 1.2 billion
Swedish crowns ($117.34 million) to New Technologies LLC, whose
principal owner is Igor Shilov.
    HENKEL  HNKG.DE  
    The consumer goods company said in April it has sold its
business in Russia for around 600 million euros to a consortium
of local financial investors.
    HUHTAMAKI  HUH1V.HE 
    The Finnish maker of packaging for food and beverages sold
its operations in Russia in September for 151 million euros to
Espetina Ltd, a company belonging to the owner of McDonald's
former restaurants in Russia.
    IMPERIAL BRANDS  IMB.L 
    The British tobacco group announced the transfer of its
Russian business to investors based in Russia in April 2022.
    MAERSK  MAERSKb.CO 
    The shipping and logistics group has agreed to sell its two
logistics sites in Russia to IG Finance Development Limited.
    In August last year, Maersk sold a 30.75% stake in Russian
port operator Global Ports Investments  GLPRq.L  to Russia's
largest container operator Delo Group.
    MONDI  MNDI.L  
    The British paper and packaging firm said on July 3 it had
completed the sale of three Russian packaging converting
operations to Gotek Group for 1.6 billion roubles ($18 million).
    In June, Mondi terminated a 95 billion rouble deal to sell
its largest plant in Russia, Mondi Syktyvkar, due to a "lack of
progress" in getting approvals.
    SCHNEIDER ELECTRIC  SCHN.PA 
    The French electrical equipment maker closed the sale of its
operations in Russia to local management in September last year.
    STORA ENSO  STERV.HE  
    The Finnish forestry firm has completed its exit from Russia
with the sale of three corrugated packaging plants to local
management, it said on May 16, 2022. 
    YIT  YIT.HE 
    The Finnish builder completed the sale of its businesses in
Russia to Etalon Group in May 2022.
    UNIQA INSURANCE GROUP  UNIQ.VI  
    Austria's Uniqa and Raiffeisen Bank  RBIV.VI  are to sell
their stakes in Raiffeisen Life to Russian insurer Renaissance
Life, the  Austrian insurer said on August 24.


    

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Moscow takes control of Russian subsidiary of Danone and
Carlsberg's stake in brewer     urn:newsml:reuters.com:*:nL8N3920B6
ANALYSIS-Remaining Western firms face tricky Russian exits   
 urn:newsml:reuters.com:*:nL8N35W4GX
Moscow demands bigger discounts from foreign companies exiting
Russia     urn:newsml:reuters.com:*:nL8N3A255U
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Compiled by Augustin Turpin, Agnieszka Gosciak, Matteo
Allievi, Tristan Veyet, Praveen Paramasivam, Paolo Laudani,
Victor Goury-Laffont, Luca Fratangelo; Editing by Jane Merriman)
 ((gdansk.newsroom@thomsonreuters.com ; +48 58 7 69 66 00))