Canpack completely exited Russia, selling shares in Russian enterprises for $122 million

Brief retelling from RIA II

Canpack exited Russia completely, selling stakes in its former Russian businesses to a third-party buyer.

The sale transaction was completed on September 10, 2026 after receiving all necessary government approvals.

Canpack lost all financial, operational and management control over its Russian operations and recorded a loss of $354.7 million.

MOSCOW, September 10 - RIA Novosti. Manufacturer of aluminum beverage cans and glass bottles Canpack has completely left Russia, selling stakes in enterprises in the country, according to a company press release.

"Canpack Group, Inc. today announced its complete exit from Russia by selling its remaining nominal interests in its former Russian businesses to a third-party buyer," the statement said.

It is noted that, through its subsidiaries, Canpack entered into an agreement to sell its ownership interests to a third-party buyer for $122 million.

“After receiving all necessary government approvals, the sale transaction was completed on September 10, 2026,” the company writes.

According to the decree of Russian President Vladimir Putin, which entered into force on December 31, 2025, 100% of the shares in the authorized capital of Can-Pack LLC, owned by Canpack, and 100% of the shares in the authorized capital of Can-Pack Packaging Plant LLC, owned by Tapon France, were transferred to the temporary management of StalElement LLC.

As a result, Canpack lost all financial, operational and management control over its Russian operations, assets and personnel, although some of its subsidiaries remained nominal shareholders of the Russian operations, the company added. Canpack also excluded its domestic operations from its consolidated accounts and recorded a loss of $354.7 million.