Russian President Vladimir Putin signed a decree according to which Danone and Baltika shares owned by foreign companies are transferred to the temporary administration of the Federal Property Management Agency. The document was published on the official Internet portal for legal information.
The Federal Property Management Agency received 100% of Baltika, including 98.56% ownership by the Swedish legal entity Carlsberg, 0.09% by the German legal entity Carlsberg and 1.35% by Hoppy Union LLC.
100% of Danone’s Russian business (83,292,493 thousand shares of Produits Laitiers Frais Est Europe and 85 thousand shares of Danone Trade) came under the temporary administration of the Russian Federation.
The Carlsberg Group said that it had not received any official information from the Russian authorities about the transfer of the Russian company Baltika to state administration. The Group “will assess the legal and operational implications of this development and will take all necessary retaliatory measures.”
- In March 2022, Danone suspended investment projects in the Russian Federation, in October the company announced its final withdrawal from the Russian market. The Agnta group of companies showed interest in the company’s Russian assets. In July 2023, Danone decided to localize the international brand Activia for the Russian market. This will help the company to resume investment in local business development.
- In August 2022, Carlsberg suffered a loss of $630 million due to its departure from Russia. In June 2023, the Danish manufacturer announced that it had signed an agreement to sell its Russian business, the potential buyer was not disclosed.
Author:
karina pardaeva
Source: RB
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