Packaging and paper manufacturer Mondi confirms that the sale of its three Russian packaging converting operations to safety equipment supplier Gotek Group for Rb1.6-billion has been completed.
Mondi has received net proceeds of €30.4-million from this disposal into its Austrian bank account.
The net proceeds from the sale of all Mondi’s Russian assets will be distributed to shareholders as soon as reasonably practicable following receipt, once the company’s exit from Russia has been completed.
The proposed disposal of Mondi Syktyvkar – Mondi’s most significant facility in Russia – is not connected with this disposal and the company’s board says it remains committed to divest Syktyvkar.