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Benzinga

Business

Shivani Kumaresan

Unilever, Kraft Heinz Suspend Exports, Investments In Russia

Russia Kraft Heinz KHC UL Alan Jope Kraft Heinz Co NYSE Ukraine Wall Street Journal

Food and beverage company Kraft Heinz Co (NASDAQ:KHC) has suspended all new investments in Russia and also all imports and exports of products.
Kraft Heinz said it continues to closely assess the humanitarian crisis in Ukraine.
Consumer goods giant Unilever PLC (NYSE:UL) has halted all imports and exports of its products in Russia in addition to stopping advertising and media spending in the country, the Wall Street Journal reported.
"We will not invest any further capital into the country nor will we profit from our presence in Russia," the report quoted CEO Alan Jope.
The companies didn't disclose earnings details for the region.
Price Action: KHC shares are trading lower by 1.81% at $37.96, and UL is up 2.38% at $44.75 in premarket on the last check Wednesday.

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