: Amcor sells Russian operations to HT Investments


Packaging company Amcor Plc AMCR, -0.99%   AMC, -0.28% said Friday it completed the sale of its three factories in Russia to Russia-based investor HS Investments for 370 million euros ($392.7 million) in cash. Amcor’s three sites in Russia employed 900 people and accounted for about 2% of sales in 2022. Amcor said the deal is not expected to have a material impact on its 2023 fiscal outlook. Amcor previously announced plans to sell its Russian business, as part of a larger move by companies in reaction to Vladimir Putin’s Ukraine invasion. Shares of Amcor are down 0.3% in 2022, compared to a 19.8% drop by the S&P 500 [s: spx].

This article was originally published by Marketwatch.com. Read the original article here.

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