Purmo Group has sold its Russian business to a Russian investment company, the company informs. As a result of the transaction, Purmo Group has no business in Russia. The company’s redemption debt related to its Russian business will be paid soon after the transaction is completed. The parties have agreed that the purchase price will not be made public.
The company announced its withdrawal from the Russian business in spring 2022, and initially agreed to sell the business operations to IPLS in spring 2023. However, according to Purmo, the process of approving the deal took longer than expected, and the company continued negotiations with other potential buyers. The transaction with the investment company was announced in April 2024.
In 2023, the share of Russian business in Purmo Group’s total turnover was about 3 percent. The sale has no significant financial impact on Purmo Group or its financial guidelines for 2024.
Source: www.arvopaperi.fi
