Telko has signed a binding framework agreement according to which it will sell the share capital of its Russian subsidiary Telko OOO to Russian industrial operator GK Himik. The purchase price is approximately EUR 9.5 million. Rights to Telko's name and trademarks are not included in the sale.
The completion of the transaction requires an approval of the Russian authorities.
As previously announced, Telko began in June to explore the possibilities of exiting its Russian operations during the current year.
Telko Ltd
Telko is a leading distributor and solution provider for converters and brand owners looking to safeguard their business with future-proof plastics, chemicals or lubricant solutions. By using industry-leading expertise, strong partnerships and renowned service capabilities to dramatically improve our customers' production lead times, material efficiency, and financial and environmental performance.