Unilever has sold its Russian operations to Arnest Group after facing pressure due to its involvement in Russia following the Ukraine invasion. The deal reflects Unilever's retreat from a contentious market.
Hein Schumacher, CEO of Unilever, stated that selling Unilever Rus involved complex preparations, including separating IT systems and migrating brands to Cyrillic. This showcases Unilever's careful planning amidst increasing pressure.
The sale, potentially valued over £500m, ends Unilever's presence in Russia, where they previously ceased all import and export activities as well as advertising spend.
Despite complexities, Unilever's exit reflects the broader trend of Western companies withdrawing from Russia amidst geopolitical tensions and challenges, signaling a significant shift in business priorities.
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