Nokian Tyres to sell Russian assets to Tatneft for 400 mln euros

HELSINKI, Oct 28 (PRIME) -- Finland's tire producer Nokian Tyres has signed a deal to sell its Russian assets to Tatneft for about 400 million euros without debt, the company said in a statement on Friday.

"Nokian Tyres plc has signed an agreement to sell its Russian operations to Tatneft PJSC. The debt free and cash free purchase price is expected to be approximately 400 million euros. The final purchase price is affected, among other things, by net cash and working capital adjustment and changes in the ruble/euro exchange rate," the company said.

The deal is subject to approval by Russian authorities. After the deal closure, the company will leave Russia.

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