Factbox: Companies sell their businesses in Russia

VEON

10/10/2024 10:26

(Updates Unilever)
       Oct 10 (Reuters) - Many Western companies have sold
their Russian assets or handed them over to local managers to
comply with sanctions over the war in Ukraine and respond to
threats from the Kremlin that it may seize foreign-owned assets.
    Below are some companies that have sold their businesses in
Russia, divided by sector:

AUTOS
    Continental  CONG.DE  sold its Russian tyre plant to holding
company S8 Capital in May 2023.
    Renault  RENA.PA  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.
    Volkswagen  VOWG_p.DE  completed the sale of its Kaluga
production plant and local subsidiaries in May 2023.

BANKS & INSURERS
    HSBC  HSBA.L  transferred ownership of its Russian unit to
Expobank for an undisclosed fee, it said in May.
    Societe Generale  SOGN.PA  sold its Rosbank business to
Interros Capital in May 2022, taking a 3.1 billion euro ($3.4
billion) hit.

ENERGY
    Shell  SHEL.L  sold its Russian retail and lubricants
business to Lukoil  LKOH.MM  in 2022.

FOOD & BEVERAGES, CONSUMER GOODS
    Belgian brewer AB InBev  ABI.BR  agreed to sell its stake in
joint venture AB InBev Efes in April 2022, taking a $1.1 billion
impairment.
    Danone  DANO.PA  completed the sale of its Essential Dairy
and Plant-based business in Russia to Vamin R LLC in May, taking
a hit of 1.2 billion euros.
    Heineken  HEIN.AS  sold its operations in Russia to Arnest
Group for a symbolic one euro, it said in August 2023.
    Unilever  ULVR.L  said on Oct. 10 it had completed the sale
of its Russian unit to Arnest Group, a Russia-based manufacturer
of perfume, cosmetics and household products, without disclosing
the terms.

FORESTRY & PACKAGING
    International Paper  IP.N  sold its 50% stake in a JV to
Russian shareholders in September 2023. Britain's Mondi sold
three packaging converting operations to Gotek Group for 1.6
billion roubles ($16.45 million) and agreed to sell its largest
plant in Russia to Sezar Invest for 80 billion roubles.
    Finnish packaging maker Huhtamaki  HUH1V.HE  last year sold
its Russian operations for 151 million euros, while forestry
firm Stora Enso  STERV.HE  sold its three corrugated packaging
plants to local management.

RESTAURANTS & RETAIL
    AmRest  EATP.WA  in May 2023 closed the sale of its KFC
business in Russia to Smart Service for 100 million euros.
    Gazprombank Group bought 14 MEGA shopping centres in Russia
from a unit of IKEA operator Ingka Group in September 2023 for
an undisclosed price.
    Hugo Boss  BOSSn.DE  sold its Russian business to wholesale
partner Stockmann for an undisclosed fee, it said on Aug. 5.
    Moscow approved the sale of Zara owner Inditex's  ITX.MC 
Russian business to a UAE-based buyer in April 2023.
    LPP  LPPP.WA  sold its Russian business in June 2022 to a
Chinese consortium and a former CEO of Russian company Re
Trading. The price for the stores was $135.5 million, plus 1.2
billion zlotys ($304.67 million) for the inventory. LPP recorded
a 600 million zloty loss on the sale, it said on March 18.
    McDonald's  MCD.N  sold its business in Russia in 2022,
taking a charge of $1.28 billion.

TOBACCO
    British American Tobacco  BATS.L  said in September 2023 it
would sell its Russian and Belarusian businesses for an
undisclosed sum to a consortium led by its Russian management
team.
    Imperial Brands  IMB.L  transferred its Russian business to
investors based in Russia in April 2022.

OTHER
    EMBRACER  EMBRACb.ST  
    The Swedish gaming company ceased operations in Russia by
divesting selected assets from its Saber Interactive subsidiary
for $247 million, it said in March.
    POLYMETAL INTERNATIONAL  POLY.MM 
    The precious metals producer said in March it had completed
the sale of its Russian business to a Siberian gold miner in a
$3.69 billion deal, including the business's $2.21 billion net
debt.
    VEON  VON.AS  
    The telecoms operator completed its exit from Russia in
October 2023 with the sale of Vimpelcom to senior members of the
local management team.
    XEROX HOLDINGS  XRX.O  
    Printer maker Xerox Holdings said on in October 2023 it had
sold its operations in Russia to local management for an
undisclosed sum.
    YANDEX NV  YNDX.O  
    Yandex, a Dutch-registered firm that operates an internet
search engine, completed its split in July, with a Russian
consortium of investors buying the bulk of its businesses in a
deal worth around $5.4 billion.

($1 = 0.9148 euros)
($1 = 97.2500 roubles)
($1 = 3.9387 zlotys)

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FACTBOX-Moscow takes control over assets of Western companies   
 urn:newsml:reuters.com:*:nL8N39D6O7
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 (Compiled by Augustin Turpin, Agnieszka Gosciak, Matteo
Allievi, Tristan Veyet, Paolo Laudani and Anna Pruchnicka in
Gdansk; editing by Emelia Sithole-Matarise and Milla Nissi)
 ((paolo.laudani@thomsonreuters.com))