On 17 September 2023, Mondi confirmed that it had entered into an agreement to sell its last remaining facility in Russia, JSC Mondi Syktyvkar, together with two affiliated entities to Sezar Invest LLC, with the transaction completing on 4 October 2023.
The total cash consideration of RUB 80 bn has now been received by Mondi, including the two remaining instalments in November and December 2023, totalling RUB 23 bn in aggregate, and as referred to in Mondi’s announcement on 4 October 2023. The proceeds have all been converted into Euros. The net proceeds from the sale of all Mondi’s Russian assets, which include both Mondi Syktyvkar sold in October 2023 and the three converting operations sold in June 2023, amount to approximately €775m.
The net proceeds will be distributed to Mondi shareholders by way of a special dividend, with an associated share consolidation, both subject to shareholder approval.
