ELKO Group announces withdrawal from its Russian businesses

The divestment will include ELKO’s $300m Russian distributor business it acquired in 2019

Nima Green
clock • 1 min read
ELKO Group announces withdrawal from its Russian businesses

ELKO Group has signed an agreement to sell all of its shares in all its subsidiaries in Russia, the Pan-European distributor has announced. The first told CPI that it was exploring financial and legal options to exit the Russian market in early March. The €2bn-revenue company had already stopped deliveries of IT equipment and household appliances to the Russian market since the start of Russia's invasion in February. ELKO says it has now started the "separation of operational and technical...

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