Putin Seizes Control of Swiss and French Assets in Russia
- On Thursday, Russian President Vladimir Putin signed a decree placing Russian subsidiaries of French retailer Auchan and Swiss food company Nestle under temporary management, marking significant governmental intervention in foreign corporate operations.
- Neither Auchan nor Nestle exited Russia following the 2022 invasion of Ukraine, though Nestle scaled back operations by halting investments and stopping sales of brands including KitKat and Nesquik.
- The decree also placed a 0.007% stake held by French group Adeo in Monlid, the Russian entity of Leroy Merlin, under temporary management; the stores now operate under the Lemana PRO brand.
- In mid-August, Kommersant reported that Logistika requested this temporary management for Nestle, a move the outlet noted "could be the first stage in an ownership-transfer process."
- This strategic shift underscores a notable escalation in measures affecting global businesses within Russia, as the state assumes oversight of foreign corporate assets.
61 Articles
61 Articles
Russian President Vladimir Putin on Thursday signed a decree confiscating the assets of several multinational companies, including Nestlé and Auchan.
Russian President Vladimir Putin signed, on September 17, a decree confiscating the assets of several international companies, including Nestlé and Auchan. Among the other companies are Bati Logistics, FM Logistics and Le Monlid LLC...
The assets of the food group, as well as those of Auchan and the former Leroy Merlin were transferred to the same Russian company, according to a decree of the Russian president published on Thursday. Nestlé claims to take "all necessary measures" to protect its rights in RussiaThe assets in Russia of the Swiss multinational Nestlé, the French distribution chain Auchan and the former Leroy Merlin group, renamed Lemana Pro in 2024 in that country…
The Russian subsidiary of Auchan has been transferred under temporary management to the company "L.E.V. Management". This was revealed by "Interfax". The agency cited a decree of Russian President Vladimir Putin. The assets of the Nestlé company in Russia have also been transferred under temporary management to "L.E.V. Management". "Auchan" is a French corporation controlled by the family company "Association of the Mullier Family". After the st…
The Russian assets of the Nestlé food company were transferred to L.E.V. for administration by order of the Russian President.
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