German Henkel, the manufacturer of Moment glue, has left the Russian market
The company sold its Russian assets for EUR 600 million
German concern Henkel has announced the completion of the sale of its Russian assets.
According to the company's quarterly report, the transaction amounted to EUR 600 million.
Henkel, one of the world's largest producers of household and industrial chemicals, announced its withdrawal from the Russian market in April 2022, shortly after the start of Russia's full-scale invasion of Ukraine.
Soon after, the group announced that its Russian assets would be sold to a consortium of local investors, including Augment Investments, Kismet Capital Group, and Elbrus Services.
Henkel, which had been operating in Russia since 1990, owned 11 factories in different regions of the country, which produced goods under the brands Moment, Pemolux, Laska, Schwarzkopf, Syoss, Fa, Persil and Vernel.
Background. Earlier it was reported that 11 of the company's plants could be acquired by a consortium of investors, including shareholders of the Russian drug manufacturer Pharmstandard (owned by Viktor Kharitonin and Yegor Kulkov), Ivan Tavrin's Kismet Capital investment company, and the founders of the Elbrus Capital fund. Pharmstandard's shareholders will become the majority owners.
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