Moscou Prend Le Contrôle Des Actifs en Russie Du Groupe De Distribution Allemand Metro
The decree transfers Metro Russia to a state management firm as Moscow expands seizures of Western assets amid tensions with Germany.
- On Monday, President Vladimir Putin signed an executive order placing the Russian subsidiary of Metro AG under state "temporary management," transferring control to Torg Rus, a management firm registered earlier this month.
- Earlier this month, the Kremlin seized Russian subsidiaries of Auchan, Nestlé, and Lemana PRO, utilizing a 2023 order that grants the state authority to place foreign assets under "temporary management."
- Moscow describes these asset seizures as a response to "hostile actions" by "unfriendly" governments, while Russian Foreign Minister Sergei Lavrov recently met his German counterpart at the UN General Assembly in New York.
- Metro Russia stated operations continue as usual despite the order, though corporate records show Johannes Tholey, the CEO of Metro Russia, also serves as CEO of Torg Rus.
- Germany recently accused Russia of staging a drone attack at Leipzig/Halle Airport; Berlin retaliated by closing a Russian consulate and the Russian cultural center, escalating tensions weeks before the Metro seizure.
32 Articles
32 Articles
Metro remained unlike many other international companies even after the Russian attack on Ukraine in Russia. Now the company loses business in the country.
Russia is placing the business of Metro AG under compulsory administration. President Vladimir Putin is thus continuing his interventions in companies from Western countries.
The Local - De
Insider PaperMoscow seizes Russian assets of German food retailer Metro
Retail giant Metro, was one of few Germany-based companies that had maintained large scale operations in Russia even after the war in Ukraine and related sanctions forced other companies out. Now Moscow has seized its assets.
Next Putin access to German company!: Metro in Russia under forced administration
As one of a few German companies, Metro AG remained in Russia even after the invasion of Ukraine. Now all assets are nationalized there.
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