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Lantmännen has divested its Russian operations
Aug. 24, 2023
Lantmännen
SwedenFollow
SwedenThe processes to divest the operations in Russia are now complete, which means that Lantmännen has left the country and the market in full.
In March of 2022, Lantmännen’s operations in Russia were separated and isolated from the rest of the group, pending a divestment. These operations have since acted entirely independently, and their results have not been consolidated.
Due to factors out of Lantmännen’s control, the divestment process has taken longer than Lantmännen wished for and expected. The conditions for exiting Russia in a structured manner are complex, and legislation has continuously been changing. As previously communicated, finalization of the processes has been pending approvals from Russian authorities, due to demands in new Russian legislation.
In connection with the divestments being finalized, a net sale loss of some 385 MSEK is generated. During 2022, the assets in Russia were also written down by a total of 500 MSEK.
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