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

Germany faces power price surge amid wind power shortfall, reliance on gas and oil

Germany’s power prices surged dramatically this week, reaching levels not seen since the 2022 energy crisis, driven by a sharp decline in wind power generation. On Wednesday, electricity imports into Germany hit a decade-high, and gas and oil-fired power plants ramped up production to meet the increased demand. This surge in demand pushed electricity…

India asks Saudi Aramco to help build strategic petroleum reserves

India is actively seeking the participation of Saudi Arabia’s Aramco in its strategic petroleum reserve (SPR) program, a move aimed at bolstering ties with a crucial oil supplier. The discussions regarding Aramco’s involvement in the SPR program have been ongoing for several years, gaining traction…

UK rethinks defense industry amid Ukraine War and U.S. pressure on NATO

Britain’s new government has unveiled a sweeping plan to strengthen its defense industrial base by accelerating procurement processes and channeling more investment into small and medium-sized defense firms and emerging technologies. Defence Secretary John Healey on Tuesday announced that the Ministry of Defence (MoD) would slash procurement timelines for key military hardware and upgrades, in a bid to make the UK’s defense sector more agile and innovation-friendly.

The reforms are also aimed at ensuring that Britain captures a greater share of the economic upside from rising defense spending — an increase driven in part by U.S. President Donald Trump’s renewed pressure on European allies to shoulder more of the continent’s security burden.

Stay informed

error: Content is protected !!