Thu March 16 06:00 pm 2023 in category Stock exchange releases
Inside information: Nokian Tyres has received the payment for the sale of its operations in Russia
Nokian Tyres plc, Inside information, March 16, 2023 at 6.00 p.m.
Nokian Tyres has received the sales price of EUR 285 million from PJSC Tatneft for the sale of its operations in Russia. The total permissible transaction price defined by the Russian Governmental Commission was 23,050 million ruble. The RUB/EUR exchange rate as determined by the Russian Central Bank on the day of payment was applied.
After registration formalities in Russia, the transaction will be completed, and Nokian Tyres’ operations in Russia will end.
“Due to the war in Ukraine it was no longer feasible nor sustainable for Nokian Tyres to continue operations in Russia. The exit process has been long, but we are satisfied that we are in the final stage of completing it. Our focus is now fully on building the new Nokian Tyres, and we are excited about our new direction”, says Jukka Moisio, President and CEO of Nokian Tyres.
The final impacts of the transaction will be disclosed in the first quarter 2023 interim report on April 25, 2023.
Nokian Tyres has published stock exchange releases on the sale of its operations in Russia as follows:
Inside information: Nokian Tyres plc to sell its operations in Russia (October 28, 2022)
Teemu Kangas-Kärki, CFO, tel: +358 10 401 7750
Päivi Antola, SVP, Communications, Investor Relations and Brand, tel: +358 10 401 7327