According to TASS with reference to the company, the transaction amount will not exceed the threshold of €220 million.

“In addition to the Stinol brand, which will be transferred along with the acquired companies, the Indesit and Hotpoint brands will be used in the above countries,” the statement said.

The companies are capable of producing 2.8 million units of equipment per year in Lipetsk, and the enterprises employ about 2.5 thousand employees.

The Finnish holding company S-Group, which manages the Prisma supermarket chain and Sokos hotels, has previously announced the sale of St. Petersburg hotels to Russian private investors.

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Pais, citing sources, informed about the decision of the Spanish clothing brand Mango to abandon direct sales in Russia against the backdrop of the situation in Ukraine.

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