Aspo’s subsidiary Leipurin completes the divestment of its Russian operations
Source: GlobeNewswireAspo Plc
Press release
October 10, 2024 at 8:00 pm
Aspo’s subsidiary Leipurin completes the divestment of its Russian operations
Aspo Group’s subsidiary Leipurin has completed the transaction of selling its Russian subsidiaries to Mr. Timur Akhiyarov. The transaction will not significantly impact the reported EBITA result of Aspo Group.
Leipurin signed a binding preliminary agreement to sell its Eastern operations to Mr. Timur Akhiyarov in January 2023. In year-end 2023 all net assets, incl. translation differences of Leipurin East were written down, generating a negative impact of EUR 5.4 million to the reported EBITA of Aspo. Aspo has not included Leipurin East in its consolidated financial statements anymore in 2024. The completion of the transaction was prolonged due to required authority approvals.
“This transaction finally completes Aspo’s exit from Russia. This costly and time-consuming exit process has tied up significant management resources. Now we are in a position where we can fully focus on implementing our profitable growth strategy in western markets”, says Rolf Jansson, CEO of Aspo Group.
Aspo Plc
Rolf Jansson
CEO
Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com
Distribution:
Nasdaq Helsinki
Key media
www.aspo.com
Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 17 different countries, and it employs approximately 800 professionals.
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