According to a recent article by Reuters, printer maker Xerox Holdings has sold its operations in Russia to local management for an undisclosed sum. This move comes as the latest Western business to cut ties with Russia over its February 2022 invasion of Ukraine. Hundreds of foreign companies have left Russia since Moscow began what it calls a “special military operation” in Ukraine, with some selling up for a nominal fee and others having their assets seized by the Russian state. Xerox had limited its operations in Russia at the onset of the conflict in Ukraine, and is now exiting its remaining operations in Russia and divesting the business to local management through the sale of its Russian subsidiary 12.
If you’re interested in reading more about this topic, you can visit the [original article](https://www.reuters.com/markets/deals/us-xerox-sells-russian-operations-local-management-2023-10-11/).
(1) US Xerox sells Russian operations to local management – Yahoo Finance. https://finance.yahoo.com/news/us-xerox-sells-russian-operations-150807327.html.
(2) US Xerox sells Russian operations to local management. https://www.reuters.com/news/picture/us-xerox-sells-russian-operations-to-loc-idUSKBN31B1K5.
(3) US Xerox sells Russian operations to local management – MSN. https://www.msn.com/en-us/money/companies/us-xerox-sells-russian-operations-to-local-management/ar-AA1i2TEP.
(4) US Xerox sells Russian operations to local management By Reuters. https://www.investing.com/news/stock-market-news/us-xerox-sells-russian-operations-to-local-management-3196220.
SOURCE Industry Analysts Inc.
