Forklift manufacturer Jungheinrich is preparing to exit the Russian market. The company announced that its board has decided to start negotiations with three Russian financial investors regarding the sale of its Russian subsidiary Jungheinrich Lift Truck OOO. “The sale of the assets will mean the termination of Jungheinrich’s activities in Russia,” the company said. Jungheinrich AG signed an agreement on the sale of its wholly owned subsidiary Jungheinrich Lift Truck OOO to a Russian financial investor and asset manager. Due to the requirements of the Russian Government Commission on the Control of Foreign Investments, the necessary approval of the Government Commission for the transaction requires that the sale price is a maximum of 40 per cent of the market value of the affected Russian company as determined by a Russian valuation expert. Within this regulatory framework, the agreed sale price for Jungheinrich’s Russian subsidiary is therefore significantly below the book value of the participation as of 31 December 2024. The completion of the sale remains subject to customary closing conditions, in particular the approval by the Government Commission, and is currently expected to occur in the fourth quarter of 2025.