Elopak expects that the transaction on the transfer of the Russian business to the local management will be completed in the first quarter of 2023, the Norwegian packaging producer said in the statement posted on the website of the Oslo Stock Exchange on Friday.
"Elopak has received information that an informal governmental approval has been conveyed to the buyer. Elopak therefore expects to receive the necessary formal governmental approval for the completion of the transaction shortly and the parties are working towards an expedient completion of the transaction, which is now expected to take place in Q1 2023," the company said.
In March 2022, Elopak announced the suspension of its operations in Russia.
