The consumer goods group Henkel has found a buyer for its Russian business. The company announced on Thursday in Düsseldorf that the activities would be sold to a consortium of local financial investors. The price is the equivalent of around 600 million euros. The consortium included companies such as Augment Investments, Kismet Capital Group and Elbrus Services. Henkel emphasized that the buyers are not subject to any EU or US sanctions. They also had long-standing business relationships in Western countries.
The relevant authorities have reportedly already approved the transaction. However, the conclusion is still pending. After Russia’s attack on Ukraine, Henkel decided in April 2022 to withdraw from the country.