Henkel Agrees to Sell Russia Business to Local Consortium for Around EUR600 Million
20 April 2023 - 7:41PM
Dow Jones News
By Pierre Bertrand
Henkel AG said Thursday it has signed an agreement to sell its
business activities in Russia to a consortium of local financial
investors.
The company, which said it would leave Russia in April last
year, said the consortium includes Augment Investments, Kismet
Capital Group and Elbrus Services.
The agreed purchase price amounts to 54 billion rubles, or
around 600 million euros ($657.3 million), according to Henkel.
"All acquirers have established and longstanding business
relationships in Western countries and are not subject to EU or
U.S. sanctions," Henkel said, adding that relevant Russian
authorities have approved the deal.
Henkel said the final closing of the transaction is pending.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
April 20, 2023 13:26 ET (17:26 GMT)
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