By Christian Moess Laursen
Mondi said it has entered an agreement to sell Mondi Syktyvkar, the company’s last Russian facility, to Sezar Invest for a total consideration of 80 billion Russian rubles ($826.4 million).
The paper-and-packaging company said Monday that the sale and purchase has been approved by the relevant Russian authorities.
The total cash consideration is to be paid in six monthly installments, while the proceeds are intended to be distributed to Mondi shareholders in a timely manners, the FTSE 100-listed company said.
In 2022, the division reported revenues of 1.085 billion euro ($1.16 billion), Ebitda of EUR481 million and pretax profit of EUR453 million.
Sezar Invest is a subsidiary of Moscow-based real-estate development company Sezar Group.
Write to Christian Moess Laursen at [email protected]
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