Electrolux ceases operations in Russia

Sweden's Electrolux Professional (EPROb.ST) is selling its business in Russia to its local management and leaving the country, the company said on Monday, Report informs, citing Reuters.

"Following the assessment that business continuity in Russia, in the current situation, is not feasible, Electrolux Professional is to cease its operations in the country," the maker of appliances for professional use said in a statement.