Atria Oyj — M&A Activity 2021

Apr 30, 2021

The divestment of Atria's Russian subsidiary OOO Pit-Product has been completed

The divestment of Atria's Russian subsidiary OOO Pit-Product has been completed

Atria Plc, Company announcement, 30 April 2021, 5:00 pm
The divestment of Atria's Russian subsidiary OOO Pit-Product has been completed

In February, Atria entered into an agreement to sell its Russian subsidiary OOO
Pit-Product to Limited Liability Company Agricultural Complex Mikhailovskiy,
member of the Cherkizovo Group. The divestment of OOO Pit-Product to the buyer
has been completed today. The sales agreement does not include Atria Russia's
other subsidiary Sibylla Rus LLC, which conducts fast food business in Russia.

The sales price is approximately EUR 30 million. The effect of the divested
business on Atria Group's net sales is approximately EUR 35 million. The
business has been loss-making.
The amount of accumulated translation differences related to Pit-Product on
April 30, 2021 is approximately EUR -45 million. The translation difference has
arisen from exchange rate changes during Pit-Product's ownership. Atria acquired
Pit-Product in 2005. At that time, the exchange rate of the Ruble against the
euro was about 34 and at the time of divestment approximately 90. Upon
divestment of a foreign subsidiary, the accumulated translation differences
related to that subsidiary, presented already earlier in equity, are recognized
in profit or loss. As the accumulated translation differences already reduce the
Group's equity, this entry will not have an effect on the Group's equity nor
cash flow. The divestment is not expected to have any other significant impact
on Atria's consolidated result.
For more information, please contact Juha Gröhn, CEO, tel. +358 400 684224.
ATRIA PLC
Juha Gröhn
CEO
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Nasdaq Helsinki Ltd
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www.atria.com