
According to a decree signed by President Vladimir Putin on Sunday, the Russian state took control of the Russian branch of French yogurt maker Danone, as well as beer company Carlsberg’s stake in a local brewery, Reuters writes.
The decree states that the foreign shares of Danone Russia and the Baltyka brewery have been transferred to the “temporary administration” of Rosymuschestvo.
The move came after the Russian subsidiaries of Germany’s Uniper and Finland’s Fortum were placed under state control in April.
At the time, the Kremlin warned it could seize even more Western assets as a “temporary measure” in response to foreign actions against Russian companies abroad.
Last October, Danone said it was looking for a buyer for its dairy business in Russia, in a deal that could lead to a write-down of up to 1 billion euros ($1.12 billion).
The decree, published on Sunday, also states that the share of the Danish brewing company Carlsberg in the Russian brewing company “Baltika” has been transferred to the state administration.
In June, Carlsberg said it had signed an agreement to sell its Russian business, subject to regulatory approval.
Danone and Carlsberg were not immediately available for comment.
Source: Hot News

James Springer is a renowned author and opinion writer, known for his bold and thought-provoking articles on a wide range of topics. He currently works as a writer at 247 news reel, where he uses his unique voice and sharp wit to offer fresh perspectives on current events. His articles are widely read and shared and has earned him a reputation as a talented and insightful writer.