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Essity has signed an agreement with a buyer and the transaction
has been approved by the Russian authorities, it said, adding
that the deal was expected to be finalised during the second
quarter of 2023.
The world's second-biggest consumer tissue maker began work on
exiting the Russian market in April, after taking a writedown of
about 1.7 billion crowns ($157.25 million) on its assets in the
country, the statement added.
Essity had said in March it would shut down all production and
sales in Russia, where it had clocked sales worth 2.8 billion
crowns last year, corresponding to about 2% of its total sales.
($1 = 10.8107 Swedish crowns)
(Reporting by Shivani Tanna in Bengaluru; Editing by Alex
Richardson)
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