HAMBURG (dpa-AFX) - Jungheinrich AG (JUNG_P), a provider of intralogistics products and solutions, has entered into advanced negotiations with three Russian financial investors for the sale of all shares in its Russian subsidiary, Jungheinrich Lift Truck OOO. The planned divestment would mark Jungheinrich's complete exit from its business activities in Russia.
In line with the requirements of the Russian Government Commission on the Control of Foreign Investments-which stipulate that approval is contingent on a sale price not exceeding 40% of the company's market value as assessed by a Russian valuation expert-current purchase price negotiations are significantly below the book value recorded as of 31 December 2024.
The company anticipates signing a binding share purchase agreement in the coming weeks, subject to the progress of negotiations. Completion of the transaction will remain contingent upon standard market conditions, particularly the approval of the Government Commission.
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