07:16 AM EDT, 09/05/2024 (MT Newswires) -- Unilever ( UL ) has received Moscow's approval to sell its Russian assets, which are valued at 35 billion rubles ($388 million) to 40 billion rubles, the Russian business news outlet RBC reported Wednesday, citing unidentified sources.

The British consumer goods company has been operating in Russia since 1991, said a Google translation of the RBC report.

The decision was made late last month by a subcommittee of the government commission overseeing foreign investments in Russia, RBC reported.

The buyer of Unilever's ( UL ) assets "has been identified, but not named," RBC cited a source as saying.

UL did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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