The Finnish Nokian Tires received 285 million euros from Tatneft for the sale of its tire activities in Russia.
The results of the transaction will be announced in the Q1 report on April 25, 2023.
*This material was created by a person who has the status of a foreign agent in the Russian Federation.
In February, the Federal Antimonopoly Office approved Tatneft’s acquisition from Nokian Tires of its shares in Nokian Tyers LLC, Hakka Invest LLC and Nokian Tire LLC. These assets also include a factory in the city of Vsevolozhsk (Leningrad region).
Nokian Tires announced that it would leave the Russian market at the end of June this year. We considered several options for the development of events, including activities in the “autonomous mode” and the continuation of tire production at the Vsevolozhsk plant.
However, it was later decided to completely dispose of the company.
A little earlier it was announced that the network of tire centers Vianor, owned by Nokian, was renamed Ivanor.
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Source: TAS