French banking giant Societe Generale (SocGen) has wrapped up the previously announced sale of Rosbank as well as the group’s insurance subsidiaries in Russia to Interros Capital. Interros Capital is a Russia-based conglomerate controlled by Russian oligarch Vladimir Potanin. It is a previous shareholder of Rosbank, which is a Russian universal bank. The deal, which […]
McDonald’s Corporation said that it has signed a sale and purchase agreement to offload its Russian business to its existing licensee Alexander Govor. The financial terms of the deal were not revealed by the American fast food company. The deal follows its earlier announcement of withdrawing from the Russian market in protest of the war […]
Russian natural gas producer PAO NOVATEK said that its subsidiary OOO NOVATEK-Yurkharovneftegas has commenced pilot production from gas condensate deposits at the Yevo-Yakhinskiy Cluster in Russia. The Yevo-Yakhinskiy Cluster includes the Yevo-Yakhinskoye and Ust-Yamsoveyskoye fields and a part of the Urengoyskoye field, within the boundaries of the Olimpiyskiy license area. According to PAO NOVATEK, the […]
McDonald’s Corporation said that it would pull out from the Russian market and has launched a process to divest its business in the country following its war on Ukraine. The exit from Russia is expected to result in McDonald’s being hit with a charge of around $1.2-1.4 billion, which will be mainly non-cash. The American […]
German conglomerate Siemens said that it will pull out from the Russian market in response to the country’s ongoing war against Ukraine. Siemens stated that it has begun proceedings to shut down its industrial operations as well as all industrial business activities. The German group plans to report the financial impact of its move as […]
Dutch drinks giant Heineken said that it has decided to quit Russia in protest of the country’s ongoing war against Ukraine. Earlier this month, Heineken announced that it has ceased new investments and exports to Russia, stopped the production, sale and advertising of the Heineken brand. The drinks company also said that it will not […]
SourceBio International, a UK-based provider of laboratory services and products, said that its board intends to extend some practical support to Ukraine following the invasion by Russia. The British firm is said to be readying an express shipment of laboratory equipment, laboratory and medical consumables, as well as ancillary supplies to be sent to assist […]
Alimentation Couche-Tard said that it is suspending operations in Russia with immediate effect in light of the country’s invasion of Ukraine. The Canadian convenience stores company has 38 stores across Russia where it is said to be winding down operations. Alimentation Couche-Tard operates under its main brand Circle K in Russia and has a workforce […]
Dr. Reddy’s Laboratories has agreed to divest anti-bacterial medicines under the Ciprolet and Levolet brands in Russia, Uzbekistan, and Belarus to Binnopharm Group, a Sistema Group company. The financial terms of the deal were not disclosed. The portfolio included in the deal has various dosage types such as tablets, solution for infusions, as well as […]
Gazprom said that it has signed a long-term sales and purchase deal with China National Petroleum Corporation (CNPC) to supply natural gas to the latter through the Far Eastern route. The agreement will enable Gazprom to increase the amount of gas volumes from Russia to China by 10 billion cubic meters. Overall, the amount of […]