THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.
The British company Raven Property Group will transfer its business in Russia to local management in connection with the situation in Ukraine and sanctions against Russia, TASS reports citing a company statement.
According to the statement, the company entered into an agreement allowing it to divest its Russian business in favor of a Cypriot company, Prestino Investments Ltd. Going forward, the assets will be managed by the Russian Raven management team led by Igor Bogorodov. The company called its decision “the most efficient way to meet sanctions requirements.” At the same time, Russian assets will be sold at face value.
On February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In response to Russia’s actions, Western countries announced new, tougher sanctions against the Russian Federation, including those of a financial and economic nature.
You can follow the chronicle of events in connection with the situation in Ukraine here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
