18 Hrs
Source:
المشهد العربي
Moscow Takes Control of Nestlé and Auchan Assets
The Russian authorities have temporarily taken control of the assets owned by Swiss company Nestlé and French company Auchan in Russia, by placing their shares in domestic operating companies under temporary management with the approval of President Vladimir Putin. This move was based on an official decree published through the state's legal portal. This action is part of Moscow's measures since 2023 to exert legal control over the assets of companies it considers "unfriendly" due to their policies toward Russia. It comes in the context of increasing exits and acquisitions of the Russian market by global companies since the start of operations in Ukraine in 2022, although major firms like PepsiCo and Mondelez remain active in the country.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)