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Factbox-Corporations promote their companies in Russia By Reuters

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(Reuters) – Some Western corporations have agreed to promote their Russian belongings or hand them over to native managers as they take motion to adjust to sanctions over the Ukraine battle and reply to threats from the Kremlin that foreign-owned belongings could also be seized.

Under are a few of the corporations by sector which have secured offers to promote their companies in Russia:

AUTOS

CONTINENTAL AG

The automotive elements producer stated on Could 22 it has offered its Russian tyre plant to Russian holding firm S8 Capital.

RENAULT The French carmaker offered its majority stake in Avtovaz to the Russian state in 2022, reportedly for just one rouble however with a six-year choice to purchase it again.

Renault (EPA:)’s RCI Banque division stated on August 14 it had agreed the sale of its Russian leasing subsidiary to Perception Funding Group LLC, however didn’t disclose any particulars concerning the settlement.

VOLKSWAGEN

The German carmaker stated on Could 19 it has accomplished the sale of its Kaluga manufacturing plant and its native subsidiaries to Artwork-Finance LLC, supported by autodealer group Avilon.

BANKS

SOCIETE GENERALE The French financial institution offered its Russia enterprise Rosbank in Could of final yr to Russia’s Interros Capital, taking a 3.1 billion euro ($3.38 billion) hit.

ENERGY

BASF

The German chemical compounds group stated in January it might take a 7.3 billion euro writedown as its Wintershall Dea power enterprise pulls out of Russia. BASF owns 67% of the voting rights in Wintershall, with the remainder being held by Letter One, a holding firm managed by Mikhail Fridman.

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SHELL

The British power and petrochemical firm final yr accomplished the sale of its Russian retail and lubricants enterprise to Russia’s Lukoil.

Russia’s authorities has authorized the sale of Shell (LON:)’s former 27.5% stake within the Sakhalin-2 power undertaking to Russian power agency Novatek for 94.8 billion roubles, a authorities order confirmed on April 12.

FOOD & BEVERAGES

AB INBEV

The brewer stated on April 22, 2022 it might promote its non-controlling stake in its Russian three way partnership AB InBev Efes, taking a $1.1 billion impairment cost.

HEINEKEN

Dutch brewer Heineken (OTC:) stated on August 25 it had accomplished its exit from Russia by promoting its operations there to Russia’s Arnest Group for a symbolic one euro.

MINING

KINROSS

The Toronto-based miner in June final yr offered all of its Russian belongings to the Highland Gold Mining Group for $340 million in money, half of the beforehand introduced value.

RESTAURANTS & RETAIL

AMREST

The restaurant operator stated on Could 15 it has accomplished the sale of its KFC restaurant enterprise in Russia to Sensible Service for 100 million euros.

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AUTHENTIC BRANDS GROUP

The Russian enterprise of Genuine Manufacturers Group-owned Reebok has been taken over by Turkey’s FLO retailing, Kommersant each day reported in Could of final yr.

INDITEX

Russian authorities had authorized a deal for Spain’s Inditex (BME:) to promote its Russian enterprise to a UAE-based purchaser. Inditex had greater than 500 shops within the nation and agreed to promote them in October.

MCDONALD’S CORP

The U.S.-based restaurant chain offered final yr its enterprise in Russia after greater than 30 years of working within the nation, taking a cost of $1.28 billion.

OTHERS

ESSITY

The Swedish hygiene firm stated on July 17 it had accomplished the divestment of its Russian operations for about 1.2 billion Swedish crowns ($117.34 million) to New Applied sciences LLC, whose principal proprietor is Igor Shilov.

HENKEL

The patron items firm stated in April it has offered its enterprise in Russia for round 600 million euros to a consortium of native monetary traders.

HUHTAMAKI

The Finnish maker of packaging for meals and drinks offered its operations in Russia in September for 151 million euros to Espetina Ltd, an organization belonging to the proprietor of McDonald’s (NYSE:) former eating places in Russia.

IMPERIAL BRANDS

The British tobacco group introduced the switch of its Russian enterprise to traders based mostly in Russia in April 2022.

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MAERSK

The delivery and logistics group has agreed to promote its two logistics websites in Russia to IG Finance Growth Restricted.

In August final yr, Maersk offered a 30.75% stake in Russian port operator International Ports Investments to Russia’s largest container operator Delo Group.

MONDI

The British paper and packaging agency stated on July 3 it had accomplished the sale of three Russian packaging changing operations to Gotek Group for 1.6 billion roubles ($18 million).

In June, Mondi (LON:) terminated a 95 billion rouble deal to promote its largest plant in Russia, Mondi Syktyvkar, on account of a “lack of progress” in getting approvals.

SCHNEIDER ELECTRIC

The French electrical tools maker closed the sale of its operations in Russia to native administration in September final yr.

STORA ENSO

The Finnish forestry agency has accomplished its exit from Russia with the sale of three corrugated packaging vegetation to native administration, it stated on Could 16, 2022.

YIT

The Finnish builder accomplished the sale of its companies in Russia to Etalon Group in Could 2022.

UNIQA INSURANCE GROUP

Austria’s Uniqa and Raiffeisen Financial institution are to promote their stakes in Raiffeisen Life to Russian insurer Renaissance Life, the Austrian insurer stated on August 24.

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