Mondi completes sale of Mondi Syktyvkar, concluding Russian exit

Market updates Group news
4 October, 2023
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Mondi completes sale of Mondi Syktyvkar.

Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

FOR IMMEDIATE RELEASE.


On 17 September 2023 Mondi plc (“Mondi”) announced the agreement to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities (together “Mondi Syktyvkar”) to Sezar Invest LLC (“Sezar Invest”) for a total cash consideration of RUB 80 billion.
 
Mondi is pleased to confirm closing has been accelerated and the sale has now completed. Mondi has therefore concluded its exit from Russia.

Mondi has received RUB 57 billion into its London bank account and it is in possession of a letter of credit for the final RUB 23 billion, which will be paid in two equal instalments in each of November and December 2023.
 
It is intended that the net proceeds from the sale of all Mondi’s Russian assets will be distributed to Mondi shareholders in a timely manner once the final instalments of the consideration in respect of Mondi Syktyvkar have been received.

Enquiries

Investors/analysts: 
Fiona Lawrence                         
Mondi Group Head of Investor Relations
Tel: +44 7425 878 683 

Media: 
Chris Gurney
Mondi Group Head of Corporate Communication
Tel: +44 7990 043 764

Richard Mountain (FTI Consulting)
Tel: +7909 684 466



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