06 Sep 2024 --- Unilever is reportedly planning to sell its Russian business assets to local company Arnest, marking a complete exit from the country amid the Ukraine war. The deal is awaiting official confirmation by the Kremlin and is said by a Russian media group to have included a steep discount. All brands under the Unilever Rus LLC subsidiary are included in the deal. According to reports, the sale could bring Unilever up to US$500 million. Under Russian law, asset sales require a 50% discount and a 10-15% exit tax.
