https://sputnikglobe.com/20230716/foreign-shares-of-danone-russia-moved-under-russias-temporary-management-1111924140.html

Foreign Shares of Danone Russia Moved Under Russia's Temporary Management

Foreign Shares of Danone Russia Moved Under Russia's Temporary Management

Sputnik International

Putin signs a decree to transfer foreign shares of Danone Russia to temporary management of the Russian Federal Agency for State Property Management.

2023-07-16T15:48+0000

2023-07-16T15:48+0000

2023-07-16T15:51+0000

russia

vladimir putin

danone

shares

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According to the decree, the agency will now take control of foreign assets of the Russian subsidiary of France's food producer Danone. All shares of Russian-based Baltika Breweries, which is 100% owned by foreign companies, will be also transferred to the temporary control of the agency. In late April, Putin signed a decree allowing the authorities to transfer foreign assets to the temporary management of the state property management agency if Russian assets abroad are seized. In October 2022, Danone announced that it had planned to transfer the effective control of its "Essential Dairy and Planted-based" business in Russia and deconsolidate its business in the country. Last month, the Carlsberg Group, which owns Baltika Breweries, said that it had signed an agreement to sell its business in Russia, with the agreement going through a regulatory approval process.

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2023

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russia, danone, danone russia, putin signs decree about danone shares