Mondi completes sale of Mondi Syktyvkar, concluding Russian exit

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.

 

4 October 2023

Mondi completes sale of Mondi Syktyvkar, concluding Russian exit.

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.

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Enquiries

Investors/analysts:

Fiona Lawrence       +44 7425 878 683

Mondi Group Head of Investor Relations

 

Media:

Chris Gurney       +44 7990 043 764

Mondi Group Head of Corporate Communication

 

Richard Mountain (FTI Consulting)    +44 7909 684 466

 

Editor's notes

Mondi is a global leader in packaging and paper, contributing to a better world by making innovative solutions that are sustainable by design. Our business is integrated across the value chain - from managing forests and producing pulp, paper and films, to developing and manufacturing sustainable consumer and industrial packaging solutions using paper where possible, plastic when useful. Sustainability is at the centre of our strategy, with our ambitious commitments to 2030 focused on circular driven solutions, created by empowered people, taking action on climate.

In 2022, Mondi had revenues of €8.9 billion and underlying EBITDA of €1.8 billion from continuing operations, and employed 22,000 people worldwide. Mondi has a premium listing on the London Stock Exchange (MNDI), where the Group is a FTSE100 constituent, and also has a secondary listing on the JSE Limited (MNP).

Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.