2023-07-16 18:37:28
By direct order of President Vladimir Putin, the Russian government has decided to take control of the Russian subsidiary of the French dairy manufacturer Danone, as well as the Carlsberg company’s stake in the local Baltika brewery, which operated under license from the company. Danish.
This new decree signed yesterday by Putin continues the strategy started this week by the Russian president, who already ordered to take control of the subsidiaries of the German Uniper and the Finnish Fortum until April. The Kremlin has already warned that these companies could be followed by others with Western participation, in a clear response to the paralyzation of the assets of Russian companies abroad.
In the decree signed yesterday, the foreign-owned stakes in Danone Russia and Baltika Breweries, which were already under state supervision, now come under the direct “temporary management” of the government agency that controls such assets, and which is has done with more than 95% of the shares.
Carlsberg had already communicated its intention to put its business on Russian territory up for sale, so the decision to take full control is the step prior to its nationalization. As for Danone, owned by the Produits Laitiers Frais Est Europe group, they lose ownership of more than 83 million shares.
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