10 Sep 2024 --- Unlike many Western companies that fled Russia right after the country invaded Ukraine, Unilever stood pat. Now, the FMCG giant is reportedly ready to sell its Russian assets to the Arnest Group, marking its final step to withdraw from the country. For many years, Arnest served as Unilever’s Russian contract manufacturer. The deal could be worth up to US$440 million and bring Unilever up to US$500 million, according to Russian media reports. However, asset sales must include a 50% discount and a 10%–15% exit tax, according to Russian law.
