Russian Decree Places Ontex Russia Unit Under Interim Administration
Ontex said a Russian Presidential Decree placed its Russia unit under interim administration, with a state-appointed administrator taking operational control. The unit represents about 5% of group revenue and 7–8% of adjusted EBITDA.
Ontex Group NV said a Russian Presidential Decree placed Ontex Russia under interim administration, with a state-appointed administrator assuming operational control. The unit accounts for ~5% of group revenue and 7—8% of adjusted EBITDA.