Greenland-based seafood giant Polar Seafood has officially exited Russia, selling its stake in its Russian subsidiary to a partner in the country, reports Greenlandic newspaper Sermitsiaq.

With the sale, Polar Seafood, the largest privately held company in Greenland, joins a number of Danish companies that have definitively withdrawn from Russia.

The group's Danish arm, Polar Seafood Denmark, sold its 75 percent share in the company Polar Seafood Russia to co-owner and managing director Konstantin Kuznetsov-Serbskij, with whom Polar Seafood has worked for more than 20 years.