Mondi to sell Syktyvkar paper plant for 95 bln rbl

MOSCOW, Aug 12 (PRIME) -- Pulp and paper company Mondi will sell its largest facility in Russia, the Syktyvkar paper plant, to Augment Investments Limited for 95 billion rubles, Mondi said in a statement on Friday.

Mondi expects the deal to be a cash transaction, and to transfer the asset until the end of the year. Mondi is not able to name a deadline as the transfer will be burdened by political conditions and restrictions of the Russian regulators, the company said.

The Syktyvkar plant is one of Russia’s largest producers of paper that employs about 4,500 people, or 17% of Mondi’s overall employees.

(60.6229 rubles – U.S. $1)

End