On 17 September 2023, Mondi announced the agreement to sell its last remaining facility in Russia, JSC Mondi Syktyvkar, together with two affiliated entities to Sezar Invest LLC for a total cash consideration of RUB 80 bn.
Mondi has now confirmed closing has been accelerated and the sale has now completed. Mondi has therefore concluded its exit from Russia.
Mondi has received RUB 57 bn into its London bank account and it is in possession of a letter of credit for the final RUB 23 bn, which will be paid in two equal instalments in each of November and December 2023. The company said it intends that the net proceeds from the sale of all its Russian assets will be distributed to shareholders in a timely manner once the final instalments of the consideration in respect of Mondi Syktyvkar have been received.
