TASS Reports on Asset Transfers by Auchan, Lemana Pro and Nestle in Russia

Russian news agency TASS published a summary on Wednesday of what it described as the key known facts regarding the transfer of Russian assets tied to three major companies: French retail group Auchan, home-improvement chain Lemana Pro, and Swiss food and beverage company Nestle, according to the agency's report.

The report, published under TASS's "In Brief" format, did not provide extensive detail in the portion available, but indicated that the agency had gathered information on ownership or operational changes affecting the Russian units of the three companies.

Auchan, Lemana Pro and Nestle are among a number of international companies that have faced scrutiny over their operations in Russia since the escalation of Western sanctions following Moscow's invasion of Ukraine in 2022. Several foreign firms have restructured, sold or transferred their Russian businesses amid the sanctions environment, according to previous TASS and other media reporting.

TASS did not specify in the excerpt reviewed the exact terms, buyers, or timing of the reported asset transfers for the three companies. EGazette was unable to independently verify further details beyond what TASS reported.

Auchan is a French multinational retail chain that has operated supermarkets in Russia for years. Lemana Pro is a home-improvement and construction retail brand operating in the Russian market. Nestle is a Swiss-based multinational company known for food and beverage products with a long-standing presence in Russia.

Further details on the specific nature of the asset transfers were not immediately available. This report will be updated as more information becomes available.