Lithuanian retail group Kesko Senukai said it has sold its indirect 50% stake in Belarusian retailer OMA and no longer operates in Belarus, LRT reported, citing BNS. The company said it decided to cease all operations in the country following Russia’s full-scale invasion of Ukraine in 2022.
“When Russia’s aggression against Ukraine began in 2022, we terminated all business ties, supply chains and cooperation in Belarus. This was a deliberate decision based on our values,” said the group’s communications director Liubovė Zaiceva.
She said the sale of the stake in OMA was completed last year after a share purchase agreement was signed, but declined to disclose the buyer or the value of the transaction, saying the company would provide that information at a later date.
The statement followed the publication of the group’s 2025 annual report, which said revenue in Belarus had increased by 2.1% to 140.2 million euros. Zaiceva said those figures reflected OMA’s operations rather than Kesko Senukai’s, as OMA formally remained included in the group’s consolidated financial statements under accounting rules.
“Under mandatory accounting standards, OMA was still included in our consolidated financial statements. So, to answer the question of who received revenue in Belarus — we did not receive any revenue; OMA did,” she said.
However, the report contains no information about the sale of OMA or any proceeds from such a transaction. As of the end of 2025, Kesko Senukai’s Lithuanian unit, through a subsidiary, still held a controlling stake in the company that wholly owns OMA. The group first announced its intention to exit its Belarusian business in May 2022.
The group’s consolidated cash flow statement also contains no information on proceeds from the sale of subsidiaries, indicating that no cash was received from such transactions during the reporting period, the report’s authors noted.
