(Bloomberg) -- Henkel AG has the right to buy back its Russian operations in the next 10 years if conditions fundamentally change, Chief Executive Officer Carsten Knobel said in an interview with the Rheinische Post newspaper.
The German company would only act on that option if the relationship with Russia improved significantly, Knobel said. A mere end to the war in Ukraine or a ceasefire would not be enough.
The provision was part of Henkel’s agreement, signed in April, to sell its business activities in Russia for about €600 million ($643 million) to a consortium of local financial investors including Augment Investments, Kismet Capital Group and Elbrus Services, Knobel said.
Elsewhere, Henkel is looking for acquisitions to beef up both its consumer brands division, which sells shampoos and laundry detergents, and its unit that markets various types of glue, Knobel added.
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