Austria's Wienerberger has sold Russia plants, report says

Wienerberger AG

28/03/2024 08:12

MOSCOW, March 28 (Reuters) - Austrian brickmaker
Wienerberger  WBSV.VI  has exited the Russian market, selling
its factories in the Vladimir and Tatarstan regions, business
daily RBC reported on Thursday, citing the company and Russian
corporate filings. 
    The new owner of Wienerberger's assets is Russian company
Stroymiks, which is already active in the construction sector,
according to the state register of legal entities. 
    The parties did not disclose the financial details of the
deal. Wienerberger did not immediately respond to a request for
comment. 
    In June 2022, the company said its local management would
take over its Russian business through a management buyout. 
    The corporate exodus from Russia since its 2022 invasion of
Ukraine has cost foreign companies more than $107 billion in
writedowns and lost revenue, a Reuters analysis of company
filings and statements showed.

 (Reporting by Reuters; editing by Jason Neely)