Swedish Essity completed the procedure to leave Russia with a loss of $117 million

COPENHAGEN, July 17 (Reuters) – Swedish hygiene and health products maker Essity has completed the sale of its Russian assets worth about SEK 1.2 billion ($117.34 million), the company said in a statement on Monday.

The buyer is New Technologies LLC, the main owner of which is Igor Shilov, Essity reported.

The negative impact on the company’s profit, including the cumulative exchange rate difference, will be around 0.5 billion crowns and will be reflected in the financial statements for the third quarter of 2023, Essity said. ($1 = SEK 10.2268)

The original message in English is available under the code: (Louise Breusch Rasmussen)