As the Ukraine conflict continues, Western companies are taking action to comply with sanctions and protect their assets from potential seizure by the Kremlin. Many have agreed to sell their Russian assets or hand them over to local managers. This corporate exodus has seen a range of companies from different sectors, such as automakers, banks, energy companies, food and beverage producers, and more, selling their businesses in Russia.
Renault, Volkswagen, Societe Generale, Schneider Electric, BASF, Shell, AB InBev, Carlsberg, Kinross, Amrest, Authentic Brands Group, Inditex, McDonald’s, Henkel, Huhtamaki, Imperial Brands, Maersk, Stora Enso, and YIT are just some of the companies that have secured deals to sell their businesses in Russia.
The sale of these assets to local companies and institutions is likely to prompt concerns that Russian companies are taking advantage of the situation and snapping up prize assets at bargain prices.