The Russian side has approved Tatneft’s acquisition of Nokian Tires assets in Russia, a move confirmed by Nokian Tires Russia. The commission set the total transaction value at 23.05 billion rubles. When the Central Bank’s official exchange rate on the payment date is applied, Tatneft’s effective price equates to about 286 million euros. Earlier projections placed the deal within a 400 million euro range, while the Finnish party had expressed reservations about selling Russian assets.
In accordance with the latest developments, the deal reflects Tatneft’s strategic intent to expand its foothold in the automotive tire sector within the Russian market. Nokian Tires Russia specializes in designing, manufacturing, and distributing tires for passenger cars, sport utility vehicles, trucks, and industrial equipment. The production footprint includes a plant in Vsevolozhsk, Leningrad region, opened in September 2005. As of 2021, a substantial portion of Nokian Tires’ passenger car tires—roughly eight in ten—were produced in Russia, underscoring the scale of manufacturing localized within the country.
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Note: this text is provided for informational purposes and reflects the latest reported figures and statements available through the cited industry outlets.