Russian billionaire made a bid for Huhtamaki’s Russian operations

The Russian billionaire Alexander Govor has made a bid for Finnish packaging giant Huhtamäki’s Russian operations amounting to 151 million euro, Reuters reports.

Alexander Govor has previously taken over McDonald’s former restaurants in Russia.

After the invasion of Ukraine, Huhtamäki retreated from Russia.

Govor is willing to pay up to 151 million euros for Huhtamäki’s Russian division, which accounts for approximately 3 percent of the packaging giant’s turnover.

According to Reuters, the acquisition will be financed by loans from the Russian bank Sberbank, which is under sanctions from the West.

 

source: Reuters

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