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2024-04-19 13:00:00 CEST 2024-04-19 13:00:01 CEST REGULATED INFORMATION Purmo Group Oyj - Other information disclosed according to the rules of the ExchangePurmo Group has agreed to sell its Russian business to a Russian investment company and ended negotiations with IPLSPurmo Group Plc | Stock Exchange Release | April 19, 2024 at 14:00:00 EEST Purmo Group has today on 19 April 2024 signed an agreement to sell its Russian operations to a Russian investment company and ended negotiations with IPLS. On 1 April 2022, Purmo Group announced its intention to exit its business in Russia, and on 28 April 2023, the company announced that it had signed an agreement to sell its Russian business to IPLS. The approval process regarding the closure of the transaction with IPLS took longer than expected. As a result, the Group continued negotiations with other buyers to sell its Russian operations. Completion of the transaction is subject to approvals by the relevant regulatory authorities in Russia, which are expected to be received during the second quarter of 2024. After the potential divestment, Purmo Group will not have any activities in Russia or any redemption liabilities concerning the Russian business. In 2023, the business in Russia represented approximately 3% of the Group’s total net sales. The divestment will not have a material financial impact on Purmo Group and will not affect the financial guidance for 2024. Further information: |
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