Mondi divests three packaging converting operations in Russia for US$25.5M

RUSSIA – Paper and packaging company, Mondi has entered into an agreement to sell its three Russian packaging converting operations to Gotek Group for about US$25.5 million (€24m), payable in cash. Gotek Group is a packaging producer based in Moscow, Russia and employs around 2,200 employees across its business. The three packaging converting operations include a corrugated solutions plant and…

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Ball Corporation divests Russia’s beverage packaging business to Arnest Group

RUSSIA – American multinational packaging company Ball Corporation has completed the sale of its beverage packaging business in Russia to Arnest Group for US$530 million. Dan Fisher, President, and CEO of Ball Corporation said: “This decision is the result of many months of consideration, delivering a solution that best secures the future of Ball’s colleagues and assets in Russia. We…

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Huhtamaki divests Russian operations to Espetina for US$150M

RUSSIA – Finnish consumer packaging company Huhtamaki has divested its Russian business to Espetina, a holding company owned by Alexander Govor and Iury Kushnerov for US$150 million. The move follows the firm’s earlier announcement to stop all investments in Russia at the outbreak of the invasion of Ukraine. The company had also previously suspended all investments in Russia in response…

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Amcor to divest Russian factories, completion of sale expected in H2 2023

RUSSIA – American-Australian global packaging company, Amcor has announced plans to sell its three factories in Russia, with completion of sale expected to occur in H2 2023. This announcement is in line with its statement in March regarding scaling down activities and exploring strategic options for its Russia operations. Until completion of the sale, which is currently expected to occur…

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Packaging firm Mondi to divest Russian packaging paper mill for US$1.5B

RUSSIA – Paper and packaging company Mondi has agreed to sell its largest plant in Russia to an investment vehicle owned by Russian billionaire Viktor Kharitonin for 95 billion roubles (US$1.5 billion). The company follows many Western companies to leave the country completely following Moscow’s invasion of Ukraine, which has complicated doing business there. The buyer of the plant, Syktyvkar…

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