Following the announcement on 15 December 2022 of plans to sell three Russian packaging converting operations to the Gotek Group for a total consideration of RUB1.6bn, Mondi confirms that Gotek Group received all requisite approvals and the sale has now been closed.
Mondi has received net proceeds of €30.4m from this disposal into its Austrian bank account.
However, the proposed disposal of Mondi Syktyvkar, Mondi’s most significant facility in Russia, is not connected with the disposal of the three packaging operations and is still pending as Mondi cancelled the sale of Mondi Syktyvkar to Augment at the start of June 2023.
The company's Board remains committed to divest Syktyvkar and continues to assess all alternative divestment options.
The net proceeds from the sale of all of Mondi's Russian assets will be distributed to shareholders as soon as reasonably practicable following receipt, once the company has completed the exit from Russia.