Knauf will have the option to buy back the Russian business. The assets of the international company will remain under the control of the management in the Russian Federation. The terms of the agreement were discussed with the Ministry of Industry and Commerce.
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The Russian management of the international company Knauf will take over the management of the company’s business in the Russian Federation. Deputy Director of the Ministry of Industry and Trade Viktor Evtukhov told RIA Novosti about this.
Under the terms of the agreement, the Knauf company in Russia will go into the hands of the Russian management, while the company itself will pay 15% of the transaction amount. Knauf will have an option to buy back the business within two years.
Evtujov assumes that the government commission will approve the agreement in June 2024.
Knauf’s intention to transfer the Russian business into the hands of its management in the Russian Federation became known in April 2024. It was reported that the deal would include all assets, including the extraction, production and sale of raw materials.
Author:
Kirill Bilyk
Source: RB
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