Mondi rockets after signing €1.5bn deal to sell Russian unit
The war in Ukraine threw the future of the paper and packaging group’s business into doubt, but its shares rose 10%
12 August 2022 - 14:09
Shares of paper and packaging group Mondi were on track for their best day in more than a decade on Friday afternoon, after it announced it had reached a €1.5bn (R25bn) deal to sell most of its assets in Russia.
Mondi’s paper business in Russia accounts for about a fifth of the group’s core profit, but it indicated in May it was looking to exit, amid an exodus of firms from the country due to the war in Ukraine...
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