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Benzinga
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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