Danfoss announces local management buyout of its Russian businesses

Danfoss says it has signed agreement to divest the business in Russia and Belarus to the local management. With the closing of the transaction, Danfoss will no longer operate in Russia and Belarus. Danfoss decided to exit Russia and Belarus on April 1, 2022.

With the closing of the transaction Danfoss will no longer operate in Russia and Belarus. Closing of the transaction is expected in September 2022.

Notwithstanding entering into the agreement to divest all operations in Russia and Belarus, Danfoss continues to monitor the situation closely and to act in full compliance with all sanctions as they develop.