Mondi plc has entered into an agreement with Sezar Invest LLC to sell its Russian paper mill Mondi Syktyvkar for a cash consideration of EUR 775 million, fully divesting from Russia.
Sep 17, 2023
Mondi plc has entered into an agreement to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities to Sezar Invest LLC for a total cash consideration of approximately EUR 775 million, which is to be paid in a series of six monthly installments, starting September 2023. Mondi Syktyvkar is a wholly owned integrated pulp, packaging paper, and uncoated fine paper mill located in Syktyvkar (Komi Republic).
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Mondi confirms that both the Russian Federation’s Federal Anti-Monopoly Service and the Government Sub-Commission for the Control of Foreign Investments have approved the disposal on the terms agreed between Mondi and Sezar Invest. Mondi also confirms that it has been informed that there are no further outstanding regulatory conditions in respect of the Disposal.
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The net proceeds will be distributed to Mondi shareholders in a timely manner once all installments of the consideration are received.
