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GRONAU - Packaging specialist Mondi has agreed to sell its last remaining facility in Russia, Mondi Syktyvkar, together with two affiliated entities to Sezar Invest in a deal worth RUB 80 billion (approximately €775 million).

Under the terms of the deal, which has been approved by regulatory authorities in Russia, once the first of four monthly installments have been paid to Mondi, expected to be by the end of December 2023, the disposal will complete and ownership of Mondi Syktyvkar will transfer to Sezar Invest and, accordingly, Mondi will have completed its exit from Russia.

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