Russia: Moscow places Nestlé, Auchan and former Leroy Merlin subsidiaries under administration
The Kremlin has transferred the Russian assets of these European groups to a Russian company, citing their "unfriendly" origin
The Kremlin announced on Friday, September 18, that it had placed the Russian subsidiaries of Swiss food giant Nestlé, French retail group Auchan and former Leroy Merlin under "temporary administration," according to information reported by RFI.
The assets of these companies in Russia have been transferred to Russian company L.E.V. Management, now tasked with their management.
To justify this decision, Russian authorities explained that these European companies originate from countries deemed "unfriendly," which they accuse of providing military support to Ukraine.
This measure is part of a broader policy pursued by Moscow since the start of the conflict in Ukraine, aimed at exercising increased control over the assets of Western companies still operating on Russian territory.
The groups concerned have not yet publicly responded to this decision, according to information reported by RFI.
Sources
- Russie: Moscou prend le contrôle des filiales de Nestlé, Auchan et de l'ex-Leroy Merlin — RFI — Français
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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