Maersk is one step closer to ceasing operations in Russia, having struck a deal to sell its logistics site there to IG Finance Development.

Maersk has sold its 1,500 TEU inland warehouse facility in Novorossiysk, as well as its refrigerated and frozen warehouse in St. Petersburg. The deal has been approved by EU and Russian regulators, and IG Finance Development has struck a deal with Arose, a large Russian food importer, to take over operations following the acquisition of the facilities.

“We are delighted to have found new owners for our two logistics bases in Russia, thereby implementing the decision to divest all our assets in the country.” Maersk Chief Commercial Officer said: “Throughout the divestment process, as a company, we have a strong responsibility for the remaining 50 employees at these two plants and are delighted that they will be hired as part of the new company.”

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