Factbox: companies are selling their business in Russia

June 17 (Reuters) – Some Western companies have agreed to sell their Russian assets or hand them over to local leaders as they struggle to comply with sanctions over the Ukraine conflict and face threats from the Kremlin that foreign assets could be seized.

The moves, part of a wider corporate exodus from the country, are likely to raise concerns that Russian companies and institutions are grabbing valuable assets for a bargain.

Below is a list of companies by sector that have announced agreements to sell their businesses to Russia:

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CARS

INCHCAPE (INCH.L)

The British car distributor said on April 28 that it had agreed to sell its Russian business to local management for 76 million euros ($79.9 million). He added that the sale will result in an exceptional non-cash loss before tax of around 240 million pounds ($295.2 million).

RENAULT (RENA.PA)

The French automaker announced on May 16 that it would sell its majority stake in Russia’s largest automaker, Avtovaz (AVAZI_p.MM), to a Russian scientific institute for a single ruble with a six-year buyout option. Read more

Renault also said that 100% of Renault Russia shares will go to the city of Moscow.

BANKS

PPF

The Czech investment group confirmed on May 31 that it had sold 100% of its Russian banking assets, consumer lender Home Credit and Finance Bank and its subsidiaries, to a group of investors led by Ivan Tyryshkin, following its announcement of May 17. read more

SOCIETE GENERALE (SOGN.PA)

The French bank announced on May 18 that it had completed the sale of its Russian business Rosbank (ROSB.MM) to the Interros group, a company linked to Russian oligarch Vladimir Potanin. Read more

The sale will result in a net profit of 3.2 billion euros ($3.4 billion) for the bank.

ELECTRICAL COMPONENTS AND EQUIPMENT

SCHNEIDER ELECTRIC (SCHN.PA)

The French electrical supplier will sell its operations in Russia and Belarus to local management, the company announced on April 27, signing a letter of intent with the designated buyers.

It will write off up to 300 million euros ($315.5 million) of net book value and perform a non-cash reversal of currency translation estimated at 120 million euros. Read more

ENERGY

ENEL (ENEI.MI)

The Italian utility said on June 16 that it had agreed to sell its 56.43 percent stake in Enel Russia for about 137 million euros ($144.1 million) to Russia’s second-largest oil producer, Lukoil ( LKOH.MM), and the private fund Gazprombank-Frezia. He said the sale will have a negative impact on the group’s reported net income of around 1.3 billion euros. Read more

EQUNOR (EQNR.OL)

The Norwegian oil and gas company said on May 25 that it had exited its four Russian oil and gas joint ventures, transferring assets to state-owned Rosneft (ROSN.MM), its longtime partner. Equinor has also signed an agreement to exit the Kharyaga oil project. Read more

FORTUM (FORTUM.HE)

The Finnish utility company plans to sell its Russian energy assets by July 1, with major Russian companies among the likely bidders, the Kommersant daily reported on June 14, citing people familiar with the situation.

The RIA news agency reported on June 16 that Russian energy company T Plus would bid for Fortum’s Russian assets, while TASS reported the same day that Gazprom was considering acquiring shares in the Russian regional power company. TGK-1 (TGKA.MM) from Fortum.

SHELL (SHEL.L)

The British energy and petrochemicals giant will sell its Russian retail and lubricants business, which includes 411 service stations and the Torzhok lubricants blending plant, to Russia’s Lukoil (LKOH.MM). announced the companies on May 12. Shell declined to comment on the value. of the agreement. Read more

FOOD AND DRINKS

AB INBEV (ABI.BR)

The Dutch brewer announced on April 22 that it would sell its non-controlling stake in its Russian joint venture AB InBev Efes, taking a $1.1 billion impairment charge in the first quarter. Read more

ATRIA (ATRAV.HE)

The Finnish food processing company said on May 16 that it sold its Russian fast food business, Sibylla Rus, to Russian meat producer Cherkizovo (GCHE.MM) for around 8 million euros ($8.4 million ).

FAZER

The Finnish bakery and catering company announced on April 29 that it had agreed to sell its Russian unit to Kolomenskij Bakery and Confectionery Holding of Moscow. Fazer did not disclose the value of the transaction.

MCDONALD’S CORP (MCD.N)

The US fast-food giant said on May 19 that it would sell its Russian business to its current licensee Alexander Govor and the restaurants would operate under a new brand, but did not disclose financial terms of the deal. Read more

PAULIG

The private Finnish food and drink company said on May 5 that it had sold its Russian business to Indian private investor Vikas Soi.

PIZZA HUT (EATP.WA)

The Russian Pizza Hut franchise was bought from Polish franchisor AmRest by Noi-M – which is linked to the Rosinter restaurant group which operates the Russian franchises of Costa Coffee and TGI Friday’s – for 300 million rubles (5.3 million dollars) , reported Kommersant on June 7. .

RAISIO (RAIVV.HE)

The Finnish food processing company said on April 29 that it had agreed to sell its consumer business in Russia to Copacker Agro Ltd for around 1.5 million euros ($1.6 million).

VALIO

The Finnish dairy producer has sold its Russian operations to GK Velkom, the company announced on April 26. Valio gave no financial value to the deal.

MINING

AMUR MINERALS CORP (A7L.L)

The London-listed Russian mining company announced on May 9 that it was offering to sell its main Kun-Mania project for $105 million to Stanmix Holding Limited, a company controlled by Vladislav Sviblov.

KINROSS GOLD CORP (K.TO)

The Canadian gold producer said on June 15 that it had sold its Russian assets to Highland Gold Mining Group for $340 million in cash, half the previously announced price.

OTHERS

APATOR SA (APTP.WA)

Polish switchgear and metering company Apator announced on May 20 that its Powogaz unit had sold its entire stake in Russian firm AO Teplovodomer for 5 million rubles ($88,496).

AUTHENTIC BRANDS GROUP (AUTH.N)

Turkish footwear retailer FLO Magazacilik is in talks to buy more than 100 stores belonging to fitness brand Reebok in Russia, which is part of the Authentic Brands group, FLO chairman Mehmet Ziylan said on May 16. Ziylan added that a deal has not been finalized. Read more

BRUNEL INTERNATIONAL (BRUN.AS)

The Dutch employment services company is in the process of selling its Russian operations to local management, it announced on April 29.

FLUGGER GROUP (FLUGb.CO)

The Danish paint maker said on April 8 that it had initiated the sale of its Russian and Belarusian companies, taking a writedown of 115 million Danish kroner ($16.2 million).

IMPERIAL MARKS (IMB.L)

The British tobacco group said on May 17 that the agreement to sell its Russian business to “Russia-based investors” was closed and did not include a clause allowing it to buy back its business there in the future. . The group previously said it expected an estimated charge of 225 million pounds ($276.7 million) for the transaction. Read more

LPP (LPPP.WA)

The Polish clothing retailer announced on May 19 that it had decided to sell its Russian company RE Trading to a Chinese consortium. Read more

MAERSK (MAERSKb.CO)

The Danish shipping company has found potential buyers for its 30.75% stake in Global Ports Investments (GLPRq.L), which operates ports in Russia, it announced on May 4. read more

OC OERLIKON CORPORATION AG PFAEFFIKON (OERL.S)

The Swiss industrial group announced on June 2 that it had reached an agreement with local management to sell its business in Russia, which will continue to operate independently under its new owners.

SOPRANO (SOPRA.HE)

The Finnish training company said on May 19 that it had sold its unit in Russia to local management, adding that the sale will not have a significant impact on the company’s results.

STORA ENSO (STERV.HE)

The Finnish forestry company has completed its exit from Russia with the sale of three corrugated packaging plants to local management, it announced on May 16.

In April, Stora announced that it had agreed to sell its two sawmills and their forestry operations in Russia to local management, posting a loss of 130 million euros ($136.7 million ).

YIT (YIT.HE)

The Finnish automaker said on May 30 that it had completed the sale of its Russia business to Etalon Group PLC (ETLNGq.L) for the previously agreed price of around 50 million euros ($52.6 million). .

ZURICH INSURANCE (ZURN.S)

The Swiss insurer said on May 20 that it had agreed to sell its Russian business to 11 members of the local team. Read more

($1 = 0.8131 pounds)

($1 = 0.9508 euros)

($1 = 56.5000 rubles)

($1 = 7.0809 Danish kroner)

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Compiled by Elena Vardon, Augustin Turpin, Enrico Sciacovelli, Ina Kreutz Editing by Andrew Heavens, Susan Fenton and Emelia Sithole-Matarise

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