Lantmännen has signed agreements to divest the Russian operations

Date:06-21-2023

Lantmännen has signed agreements with buyers to divest the operations in Russia, and is now awaiting approval from Russian authorities to complete the transaction. This is a process that is mandatory under Russian law.

In March 2022, Lantmännen's operations in Russia were separated from the rest of the Group, as a first step in a divestment, and have since then acted completely independently.

Due to reasons beyond our control, the process has taken longer than we preferred or expected. The circumstances for leaving Russia in a structured way are very complex and legislation is constantly changing.

During 2022, Lantmännen's assets in Russia were written down by a total of SEK 500 million. Additionally, the holdings were reclassified from subsidiaries to associates, which means that the holdings are no longer consolidated.