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Mondi Plc - Mondi completes sale of three Russian converting operations

PR Newswire
·2-min read

Mondi plc

(Incorporated in England and Wales)

(Registered number: 6209386)

LEI: 213800LOZA69QFDC9N34

JSE share code: MNP ISIN: GB00B1CRLC47

LSE share code: MNDI

3 July 2023

Mondi completes sale of three Russian converting operations

Following the announcement on 15 December 2022 of the agreement to sell its three Russian packaging converting operations to the Gotek Group for a total consideration of RUB 1.6bn, Mondi plc ("Mondi") confirms that Gotek Group received all requisite approvals and the sale has now completed. Mondi has received net proceeds of €30.4m from this disposal into its Austrian bank account.

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The net proceeds from the sale of all our Russian assets will be distributed to shareholders as soon as reasonably practicable following receipt, once our exit from Russia has been completed.

The proposed disposal of Mondi Syktyvkar, Mondi's most significant facility in Russia, is not connected with the disposal of the three packaging converting operations. The Board remains committed to divest Syktyvkar and continues to assess all alternative divestment options.

Enquiries

Investors/analysts:

Fiona Lawrence +44 7425 878 683

Mondi Group Head of Investor Relations

Media:

Chris Gurney +44 7990 043 764

Mondi Group Head of Communication

Richard Mountain (FTI Consulting) +44 7909 684 466

Editor's notes

Mondi is a global leader in packaging and paper, contributing to a better world by making innovative solutions that are sustainable by design. Our business is integrated across the value chain - from managing forests and producing pulp, paper and films, to developing and manufacturing sustainable consumer and industrial packaging solutions using paper where possible, plastic when useful. Sustainability is at the centre of our strategy, with our ambitious commitments to 2030 focused on circular driven solutions, created by empowered people, taking action on climate.

In 2022, Mondi had revenues of €8.9 billion and underlying EBITDA of €1.8 billion from continuing operations, and employed 22,000 people worldwide. Mondi has a premium listing on the London Stock Exchange (MNDI), where the Group is a FTSE100 constituent, and also has a secondary listing on the JSE Limited (MNP).

Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.