Mondi completes sale of three Russian converting operations

Mondi completes sale of three Russian converting operations
Photo - Mondi

Following the announcement on 15 December 2022 of the agreement to sell its three Russian packaging converting operations to the Gotek Group for a total consideration of RUB 1.6bn. Mondi confirms that Gotek Group received all requisite approvals and the sale has now completed. Mondi has received net proceeds of €30.4m from this disposal into its Austrian bank account.

The net proceeds from the sale of all our Russian assets will be distributed to shareholders as soon as reasonably practicable following receipt, once our exit from Russia has been completed.

The proposed disposal of Mondi Syktyvkar, Mondi’s most significant facility in Russia, is not connected with the disposal of the three packaging converting operations. The Board remains committed to divest Syktyvkar and continues to assess all alternative divestment options.

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