Mondi Announces Sale of Its Last Russian Facility to Sezar Invest

Mondi plc, a multinational packaging and paper group, announced on Sunday (9-17-23) that it has entered into an agreement to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities (together “Mondi Syktyvkar”) to Sezar Invest LLC for a total cash consideration of RUB 80 million (approximately €775 million) to be paid in a series of installments (“Disposal”).

Both the Russian Federation’s Federal Anti-Monopoly Service and Government Sub-Commission for the Control of Foreign Investments have approved the Disposal terms agreed upon between Mondi and Sezar Invest, Mondi said. Mondi also stated that there are no further outstanding regulatory conditions in respect to the Disposal.

According to the press release, Mondi will be paid in RUB and in six monthly installments. The first four monthly payments will be for RUB 13.5 million, with the first installment expected to be made by the end of September. Once the first four monthly installments have been made to Mondi—which is expected to be by the end of December—the Disposal will be complete, and ownership of Mondi Syktyvkar will transfer to Sezar Invest. At that point, Mondi will have completed its exit from Russia.