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BERLIN, Apr 24The German concern Henkel AG, one of the world's leading manufacturers of household and industrial chemicals, has included the buyback of assets in one of the clauses of the agreement on the sale of business in Russia, the company's financial director Marco Svoboda said at a meeting of shareholders on Monday.
«In a few years, Henkel will be able to take advantage of the opportunity to buy back the Russian business,» Reuters writes, citing Svoboda.
Last Thursday, Henkel announced that it had entered into an agreement to sell its business in Russia with a consortium of local investors for a deal worth 600 million euros (about 54 billion rubles). A Henkel spokesman told Reuters that the concern would suffer losses from the sale of its business in Russia.
The consortium that will own Henkel's Russian assets includes Augment Investments, Kismet Capital Group and Elbrus Services. The company's press release noted that all the necessary approvals from the state authorities had been obtained and the closing of the transaction is expected in the near future.
Last spring, Henkel announced that it was withdrawing from business in Russia. At the beginning of the year «Henkel Russia» began to operate as an independent company Lab Industries. In its 2022 financial statements, the company indicated that it plans to complete the sale of Russian assets in the first quarter of 2023.
The Henkel group of companies is one of the largest European chemical concerns producing household chemicals, cosmetics and construction products. The company's brands include Moment glue, Pemolux cleaning products, Persil, Pemos, Losk, Laska, Vernel; cosmetics and hygiene products Fa, Taft, Shamtu, Schwarzkopf, Syoss; finishing products Ceresit, Metylan and others.