Moscow approves Unilever deal to offload Russian assets, RBC cites sources

MOSCOW (Reuters) - Consumer goods giant Unilever (LON:ULVR ) has received Russian government approval to sell its assets in Russia, the RBC business daily reported on Wednesday, citing unnamed sources familiar with the matter.

Unilever did not immediately respond to a request for comment.

Unilever has faced criticism for remaining in Russia since Moscow sent troops into Ukraine in February 2022, though it has curtailed some spending.

RBC reported that Unilever's assets in Russia were valued at around 35-40 billion roubles ($393-$449 million). In Unilever's first-half report, published in July, it said that as of June 30, the Russian business had net assets of around 600 million euros ($663 million), including four factories.

The Kremlin demands a discount of at least 50% on exit deals involving firms from what it calls "unfriendly" countries, those that have imposed sanctions against Russia.

The wider corporate exodus from Russia has cost foreign companies at least $107 billion in writedowns and lost revenue.



($1 = 89.1455 roubles)

($1 = 0.9046 euros)

Source: Investing.com