Putin allows Mammoet to sell Russian business

MOSCOW. Feb 20 (Interfax) - Dutch heavy lift and transport operator Mammoet has secured the Russian president's permission to sell its Russian business.

Ashburn Offshore Engineering (Tianjin) Co., Ltd has received the green light to acquire 100% of Mammoet Rus LLC from Mammoet Europe Holding B.V. and Mammoet Holding B.V.

The relevant order issued by President Vladimir Putin, dated February 17, has been published on the official website for legal information.

Mammoet Rus closed 2021 with a net profit of 2 billion rubles on revenue of 6.7 billion rubles.

Mammoet announced in April 2022 that it would halt new investment in and exports to Russia.