JRL NEWSWATCH: “Russia’s New Elite Emerges to Fill Void After Multinationals Flee” – Bloomberg
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- “Foreign firms have sold assets worth over $21 billion
- Third wave of business elite swoops in to grab bargains”
“A new cohort of Russian business elite has emerged to benefit from the void left when international firms suddenly exited following … Putin’s invasion of Ukraine. … snapp[ing] up assets at discounted prices after … multinationals … [left due to] pressure from sanctions and their own investors. … McDonald’s Corp., packaging group Ball Corp. and chemicals maker Henkel AG [reportedly] are among the companies that have sold businesses worth at least $21 billion in 2022 and the first half of this year ….”