Brief: Uponor Completes Russian Market Exit

Uponor Oyj

01/03/2023 08:56

March 1 (Reuters) - Uponor Oyj  UPONOR.HE :
    * UPONOR COMPLETES RUSSIAN MARKET EXIT
    * VALUE OF TRANSACTION IS NOT DISCLOSED
    * DIVESTMENT PROCESS TOOK LONGER THAN EXPECTED DUE TO LOCAL
GOVERNMENT AUTHORITY REQUIREMENTS
    * BUSINESS WILL OPERATE UNDER LOCAL MANAGEMENT'S OWNERSHIP
WITH A
DIFFERENT BRAND
    * AS PART OF DIVESTMENT, BUSINESS WILL OPERATE UNDER LOCAL
MANAGEMENT'S OWNERSHIP WITH A DIFFERENT BRAND
    * FINANCIAL IMPACT OF DIVESTMENT IS IN LINE WITH WRITE-DOWNS
OF
NET ASSETS MADE IN 2022 AND THEREFORE DO NOT HAVE MATERIAL
IMPACT ON UPONOR'S Q1 2023 FINANCIALS
    * UPONOR'S TOTAL ASSETS IN RUSSIA ACCOUNTED FOR 1.3% OF
TOTAL
GROUP ASSETS

Source text for Eikon:  ID:nGNE1ZNV6w 
Further company coverage:  UPONOR.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))