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Henkel completes sale of its Russian assets for around $684 mln

"On April 20, 2023, Henkel announced the signing of an agreement on the sale of its business activities in Russia to a consortium of local financial investors," the statement said

BERLIN, May 4. /TASS/. German chemical and consumer goods company Henkel has completed a deal to sell its assets in Russia, with the sale price reaching 54 bln rubles (around $684 mln), the company said on Thursday.

"On April 20, 2023, Henkel announced the signing of an agreement on the sale of its business activities in Russia to a consortium of local financial investors," the statement said.

According to the company, "the transaction has meanwhile been completed; the sale price amounts to 54 bln rubles (around 600 mln euros)."

On April 19, 2022, Henkel announced its decision to halt its business in Russia. The company was producing adhesive, laundry products, cosmetics and personal care items at eleven plants in Russia. Henkel later halted all investments, advertising and sponsorship activities in Russia.