This follows Grundfos’ announcement in August 2022 to fully withdraw from Russia and Belarus.
The transaction allows the new owners to run a non-Grundfos business in Russia and Belarus. The Grundfos brand and other Grundfos Intellectual Property Rights are not part of the divestment and will remain fully in Grundfos ownership.
Grundfos has thanked its Russian and Belarussian colleagues for their dedication and its former partners and customers for their valued collaboration over many years.
The agreement is subject to approval by relevant authorities in Russia, Denmark and the European Union. Grundfos expects the approval process to conclude by end of the first quarter of 2023.