References/28 Jun 2022
Borenius advised Ponsse on the divestment of its subsidiary in Russia
Borenius advised Ponsse Plc, one of the world’s largest and leading manufacturers of cut-to-length forest machines, on the divestment of its subsidiary OOO Ponsse in Russia that provided PONSSE services in Russia and Belarus. The transaction is expected to be closed by the end of Q3/2022 after required authority approvals have been received.
Sales in Russia and Belarus have accounted for roughly 20 per cent of Ponsse’s net sales based on the 2021 financial statements. Ponsse’s export and service operations in Russia have been suspended since 2 March 2022 when the company announced that it will suspend all exports to Russia and Belarus. At the same time, OOO Ponsse suspended its local spare parts and maintenance services.