(CercleFinance.com) – Following the announcement made on April 27, Schneider Electric indicates that it signed, on July 3, the framework agreement providing for the sale of its activities in Russia to the local management team, a sale which remains subject to regulatory approvals and other conditions.
Since February 24, the industrial group has suspended all new investment and all international delivery of new orders for projects in Russia and Belarus, countries where it achieved around 2% of its total 2021 turnover.
Following this operation, it plans to write down up to €300 million of net book value and to carry out a reversal – without impact on cash – of the currency translation reserve currently estimated at €17 million. .
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