08:29 AM EDT, 03/18/2024 (MT Newswires) -- Foraco International SA ( FRACF ) , a global provider of mineral and water drilling services, that saw its shares gain near 3% on Friday, announced Monday completion of the sale of its shareholding in its subsidiary, EDC Russia.

The company announced its "definitive exit" from Russia, with the sale of its shareholding in EDC Russia, a transaction that has received approval from the Russian authorities. A statement said this deal results in a marginal net profit for the company.