British paper and packaging company Mondi set to finalize Russia exit

Mondi, a leading British paper and packaging company, has made the strategic decision to divest its largest facility in Russia, Mondi Syktyvkar, through a sale to a unit of Moscow-based real estate developer Sezar Group for a substantial sum of 80 billion roubles (approximately $825.7 million) in cash. This transaction marks Mondi’s complete exit from its operations in Russia, following the prior sale of three packaging conversion plants to Gotek Group in July for 1.6 billion roubles.

The sale has received the necessary approvals from Russia’s anti-monopoly agency and the government commission responsible for foreign investments. The deal with Sezar Invest is anticipated to be finalized by December, as indicated by Mondi.

This strategic move comes after Mondi terminated a previously proposed 95 billion rouble deal to sell Mondi Syktyvkar to an investment vehicle owned by Russian billionaire Viktor Kharitonin, citing a “lack of progress” in obtaining necessary approvals.

Mondi Syktyvkar, a major pulp, packaging paper, and uncoated fine paper mill, is a significant employer with approximately 4,500 personnel. At the end of 2022, the facility reported revenues of about 1.09 billion euros (around $1.16 billion).

This decision by Mondi to divest its Russian operations aligns with the broader trend of Western companies exiting Russia in the wake of sanctions imposed over the conflict in Ukraine. Notable companies like British American Tobacco, Heineken, and Volkswagen have also undertaken similar strategic moves to withdraw from their operations in Russia.

By QUATRO Strategies International Inc.

QUATRO Strategies International Inc. is the leading business insights and corporate strategy company based in Toronto, Ontario. Through our unique services, we counsel our clients on their key strategic issues, leveraging our deep industry expertise and using analytical rigor to help them make informed decisions to establish a competitive edge in the marketplace.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

QatarEnergy and Japan’s Mitsui enter 10-year agreement for condensate supply

QatarEnergy has entered into a significant agreement with Japan’s Mitsui & Co, sealing a deal to supply 11 million barrels of condensate annually for a duration of ten years, starting in April. This deal also incorporates an option that allows QatarEnergy to boost the volume of condensate…

Saudi Arabia could extend oil output cuts into 2024

Saudi Arabia is expected to continue its additional voluntary supply cuts well into 2024, possibly extending them to at least the first quarter or even the first half of the year. These voluntary cuts are part of the broader efforts by the Organization of the Petroleum Exporting Countries and…

Trump’s tariff blitz pushes decoupling into overdrive

For years, U.S. policymakers walked a tightrope with China—framing Beijing as both a rival and a potential partner. That balancing act is now firmly in the rearview mirror. With U.S. President Donald Trump’s latest barrage of tariffs, the decoupling of the world’s two largest economies is no longer just political rhetoric—it’s becoming a defining global reality.

Trump’s sweeping 145% tariffs on Chinese imports obliterate the older “small yard, high fence” strategy, which sought to narrowly contain China in strategic sectors while preserving broad economic cooperation. Instead, Trump’s blunt-force approach targets nearly all Chinese goods, with narrow exemptions for consumer electronics. President Xi Jinping, in turn, has vowed to “fight to the end,” framing this as a battle for economic sovereignty rather than compromise.

Stay informed

error: Content is protected !!