Essity has successfully completed the divestment of the company’s operations in Russia.

Essity announced in March that the company planned on ceasing production and sales in Russia, which amounts to 2% of its total revenue. The company took a writedown of about US$157 million on its assets in Russia this past April. In June, Essity signed a deal with an unnamed buyer for a purchase price of approximately $116.8 million on a cash and debt-free basis, which has received final approval from the Russian government.

“Ever since the start of Russia’s war against Ukraine, we have been fully focused on exiting Russia. Today, we have completed the divestment of our business following a long and complex process,” said Magnus Groth, Essity president and CEO.

About Essity
Essity is a global hygiene and health company that develops, produces, and sells personal care, consumer tissue, and professional hygiene products and solutions. For more information visit www.essity.com.