With the war in Ukraine crossing 100 days, Kuehne+Nagel signed an agreement on June 3, 2022 to sell its business in the Russian Federation to its local Managing Director.
“This follows Kuehne+Nagel’s announcement on March 1, 2022, to temporarily suspend all shipments to/from the Russian Federation, except for pharma, healthcare and humanitarian supplies.”
Closing of the transaction is still subject to approval of the competent local merger control authority, an official statement said.
When contacted, K+N officials declined to give any more details about the deal.
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