Posted 20 февраля, 08:27

Published 20 февраля, 08:27

Modified 20 февраля, 08:37

Updated 20 февраля, 08:37

Vladimir Putin approves sale of Mammoet Russian business

Vladimir Putin approves sale of Mammoet Russian business

20 февраля 2023, 08:27
Mammoet (Netherlands), a global operator of heavy cargo transportation and lifting, announced in April that it was winding down its business in Russia. On February 17, Russian President Vladimir Putin (pictured) signed an order authorizing the sale of the company's Russian business (Mammut Rus LLC).

In accordance with the signed order, the Chinese company Ashburn Offshore Engineering (Tianjin) Co., Ltd received permission to purchase 100% of the shares of Mammut Rus LLC from Mammoet Europe Holding V.V. and Mammoet Holding B.V., which owned 99% and 1% of the shares, respectively.

The order states that no other permits are required for transactions.

According to Interfax, the revenue of Mammut Rus LLC in 2021 amounted to 6.7 billion rubles, and net profit reached 2 billion rubles.