FRANKFURT (Dow Jones) — The DAX group Henkel already has 50 interested parties who want to buy all or part of its Russian business. “Possible buyers are from Russia as well as from other countries,” said CEO Carsten Knobel of the Rheinische Post. “We are now examining all options in detail and aim to have the sale completed by the end of the year.”
Knobel also explains to the newspaper why the group only decided to exit business in Russia around eight weeks after the attack on Ukraine: “You have to weigh up such a far-reaching decision carefully. After all, it’s about a 30-year-old business with eleven plants and 2,500 employees, which accounts for around 5 percent of our annual turnover with a turnover of one billion euros.”
The adhesives business, which is partially relevant to armaments, is only to be partially sold and otherwise closed. “However, we will not sell some activities in our adhesives division, but will discontinue them completely so that important technologies remain in our hands,” says Knobel.
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(END) Dow Jones Newswires
July 03, 2022 20:00 ET (00:00 GMT)
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