Imperial Brands transfers its Russian operations to Russian-based investors

(RTTNews) – Imperial Brands plc. (IMB.L, IMBBF.PK, IMBBY.PK) said it has agreed to transfer its Russian operations to investors based in Russia, subject to the completion of the registration of the transaction with local authorities, which should take place soon . Imperial’s operations include a sales and marketing business and a factory in Volgograd.

The transaction aligns with its previously announced intention to divest its entire Russian operations as a going concern to provide the best outcome for 1,000 Russian colleagues.

Additionally, the company estimates a non-monetary write-off of approximately £225 million for the transaction.

There is no change from previous guidance on the financial impact of its exit from Russia and the suspension of our operations in Ukraine, Imperial Brands said in a statement.

The company said it continued to support its Ukrainian colleagues and their families, including transportation and accommodation to enable them to flee the areas hardest hit by war, and resettlement assistance for those who left Ukraine.

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