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Stock impact report

Factbox-Companies sell their businesses in Russia [Yahoo! Finance]

International Paper Company (IP) 
Last international paper company earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: internationalpaper.com/performance
Company Research Source: Yahoo! Finance
(Reuters) - Some Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreign-owned assets. The moves, part of a broader corporate exodus from Russia, have prompted concerns that Russian companies and institutions are snapping up prize assets at bargain prices. Below are some of the companies by sector that have sold their businesses in Russia: AUTOS CONTINENTAL The car parts manufacturer sold its Russian tyre plant to Russian holding company S8 Capital in May 2023. RENAULT The French carmaker sold its majority stake in Avtovaz to the Russian state in 2022, reportedly for only one rouble but with a six-year option to buy it back. VOLKSWAGEN The German carmaker completed the sale of its Kaluga production plant and local subsidiaries in May 2023. BANKS & INSURERS SOCIETE GENERALE The French bank sold its Rosbank business to Show less Read more
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