“Henkel”, “Uber”, “Duracell” and “Continental” Leave Russia

by Meifan Honcharuk
Monday, April 24, 2023
“Henkel”, “Uber”, “Duracell” and “Continental” Leave Russia

Corporations announced the sale of their shares and exit from the Russian market

German Henkel, which did not plan to stop working in Russia even last year, announced the sale of its business in the aggressor country. For approximately €600 million, the business was sold to a consortium of several companies: Augment Investments, Kismet Capital Group and Elbrus Services. It is worth noting that each of these companies is not included in the sanctions list of Western countries.

Duracell, which is part of Procter & Gamble, stops selling its products in Russia. The Duracell plant is located in Belgium, and due to unannounced but obvious reasons, the delivery of goods to Russia has stopped. As the company reported, they will sell the remaining goods and say goodbye to Russian landscapes.

Uber is driving away from Russia. Previously, the international company worked together with the Russian analogue Yandex. The Russian company-parter bought a share of Uber for $702.5 million and became the sole owner of taxi, scooter and car-sharing services.

The Dutch Continental Global Holding sells its Russian assets: a tire production plant and a distribution network. Both contracts have been signed and are awaiting approval. In March 2023, the owner of the plant announced the final decision to leave Russia.

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