On 3 March 2022 Bonava announced that it would discontinue its operations in St. Petersburg, and has since worked intensely to do so in a responsible manner.

An agreement was today reached with development and construction company RBI Group to divest Bonava’s subsidiaries in St. Petersburg. The gross proceeds are approximately RUB 3.3 bn (SEK 440 M). The deal is contingent on approvals from authorities. Under current conditions obtaining approvals is a complex process, which is expected to be completed during the third quarter 2023. The deal will not be recognised in Bonava’s profit until closing and payment, at which time amounts will be finalised and communicated.