European seafood and processing giant Viciunai has still not completed the sale of its Russian division more than 11 months after the company committed to selling off the business in the wake of the invasion of Ukraine by President Vladimir Putin's armed forces.
"I have no news - the sales process is not over yet," a Viciunai spokesperson told IntraFish in an email.
The spokesperson declined to comment further on how close the process is to completion or how many bidders remain.
At the time of Viciunai's announcement in April 2022, there was an expectation a sale would be completed within three to four months.
Viciunai Group announced its withdrawal from Russia in early March last year, halting investments in production, logistics, and trade, while suspending marketing campaigns.
Since August, when Viciunai Group said it had whittled down the list of potential buyers for its Russian and Belarus business to five, the company has gone quiet on the sale and little has been reported by local media.
The five potential buyers -- which were not named -- were all interested in purchasing the entire business, said the group, including the operating factory as well as business relationships, brands and the formed structure of employees.