(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:
The car parts manufacturer sold its Russian tyre plant to Russian holding company S8 Capital in May.
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.
The German carmaker completed the sale of its Kaluga production plant and local subsidiaries in May.
BANKS & INSURERS
The French bank sold its Rosbank business to Russia’s Interros Capital in May 2022, taking a 3.1 billion euro ($3.38 billion) hit.
The British energy and petrochemical company last year sold its Russian retail and lubricants business to Russia’s Lukoil.
FOOD & BEVERAGES
The Belgian brewer agreed to sell its stake in joint venture AB InBev Efes in April 2022, taking a $1.1 billion impairment.
The Dutch brewer said on Aug. 25 it had exited Russia after selling its operations there to Russia’s Arnest Group for a symbolic one euro.
FORESTRY & PACKAGING
International Paper sold its 50% stake in a joint venture to Russian shareholders in September. Britain’s Mondi sold three packaging converting operations to Gotek Group for 1.6 billion roubles and agreed to sell its largest plant in Russia to Sezar Invest for 80 billion roubles.
Finnish packaging maker Huhtamaki sold its Russian operations for 151 million euros and forestry firm Stora Enso exited the country with the sale of three corrugated packaging plants to local management last year.
RESTAURANTS & RETAIL
The restaurant operator in May closed the sale of its KFC business in Russia to Smart Service for 100 million euros.
Gazprombank Group bought 14 MEGA shopping centres in Russia from a unit of IKEA operator Ingka Group for an undisclosed price, the companies said on Sept. 28.
Moscow approved the sale of the Spanish fashion retailer’s Russian business to a UAE-based buyer in April. The Zara owner had agreed to sell its more than 500 stores in October 2022.
The U.S.-based restaurant chain sold its business in Russia last year, taking a charge of $1.28 billion.
BRITISH AMERICAN TOBACCO
The maker of Camel and Lucky Strike cigarettes said on Sept. 7 it would sell its Russian and Belarusian businesses for an undisclosed sum to a consortium led by members of its local management team.
The British tobacco group transferred its Russian business to investors based in Russia in April 2022.
Printer maker Xerox Holdings said it had sold its operations in Russia to local management for an undisclosed sum.
Amsterdam-listed mobile telecoms operator Veon said it had completed its exit from Russia as it closed the sale of its Russian business, Vimpelcom, to senior members of the Vimpelcom management team, led by CEO Aleksander Torbakhov.
(Compiled by Augustin Turpin, Agnieszka Gosciak, Matteo Allievi, Tristan Veyet, Paolo Laudani and Victor Goury-Laffont in Gdansk; Editing by Jane Merriman, Christina Fincher, Milla Nissi and Rod Nickel)