Essity, the Swedish hygiene company, is selling its Russian business

On June 10, Swedish personal care products maker Essity said in an emailed statement that it had signed an agreement with a buyer to divest its Russian business.

The deal has been approved by Russian authorities and is expected to close in the second quarter of this year, the statement said.

Essity's net sales in Russia accounted for about 2 percent of the company's total revenue last year, and the disposal is not expected to have a material financial impact on the company's results, according to the statement.

Essity first announced its Russian market divestment program in April last year, recording an impairment of nearly SEK 1.7 billion ($157 million) in Russian assets in fiscal 2022.

Reference

https://www.sohu.com/