Proposed disposal of Mondi Syktyvkar

Mondi plc (“Mondi” or the “Group”) today announces that it has entered into an agreement to sell its most significant facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities (together “Syktyvkar” or the “Business”) to Augment Investments Limited (“Augment”) for a consideration of RUB 95 billion (around €1.5 billion at current exchange rate)1 , payable in cash on completion (the “Disposal”).

The proposed Disposal follows Mondi’s announcement on 4 May 2022 that, having assessed all options for the Group’s interests in Russia, it had decided to divest its Russian assets. Accordingly, Mondi launched a competitive auction process to find a suitable new owner for Syktyvkar.

Syktyvkar is a wholly owned integrated pulp, packaging paper and uncoated fine paper mill located in Syktyvkar (Komi Republic). The Business employs approximately 4,500 people and it is a leading provider of uncoated fine paper and containerboard to the domestic Russian market.
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