Logout
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
Search
My Profile
Login
Mondi to sell three Russian packaging converting operations
Print

UNITED KINGDOM (From news reports) -- British paper and packaging firm Mondi plc said on Thursday it will sell three of its Russian packaging converting operations to Moscow-based Gotek Group for 1.6 billion roubles ($24.9 million).

The London-listed company said the disposal is valued at about 24 million euros ($25.47 million) at the current exchange rate, leading to an expected loss from the sale in the range of 70 million euros to 80 million euros.

The Russian rouble, which crashed to historic lows when Moscow first sent troops to Ukraine on Feb. 24, slumped to its weakest level against the U.S. dollar in more than five months on Thursday as the currency comes under fresh pressure from the West's price cap on Russia's oil exports.

Mondi said there was no certainty as to when the deal would be completed given the political and regulatory backdrop.

You get lots of valueless email, sign up for newsletters that can promote your career.

 

Related Articles:


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: