STOCKHOLM, July 15. /TASS/. Danfoss sells its business in Russia and Belarus to the local management, the Danish-based company says in its press release on Friday.
"Today Danfoss announces that Danfoss has signed an agreement to divest its business to local management. With the closing of the transaction Danfoss will no longer operate in Russia and Belarus," the company says.
The deal is expected to be completed in September of this year. The company’s decision to leave Russian and Belarusian markets was made in April 2022.