Russian Authorities Seize French and Danish Companies’ Assets: Find Out Why

2023-07-16 22:26:00

With our correspondent in Moscow, Jean-Didier Revoin

Even if the French and Danish groups have announced for many months their desire to leave the Russian market, their plans have come to an end. The authorities took control of the majority of their assets in Russia by a decree signed by the hand of Vladimir Putin: 98.56% of the shares of the Russian brewery Baltika, belonging to Carlsberg, and tens of thousands of shares belonging to at Danone.

A temporary takeover, underlines the Russian power, which aims to form a “ compensation fund to respond to the illegal expropriation of Russian assets abroad. For the Kremlin spokesman, this decision is also a response to aggressive actions by hostile countries aimed at creating a regulatory framework for the effective withdrawal of assets of Russian companies abroad.

At the end of June, the Danish brewer Carlsberg had however announced that it had found a buyer for its activities in Russia, without naming it. For its part, Danone announced in mid-October 2022 that it wanted to withdraw from most of its activities in Russia. Projects that will not see the light of day and for which we do not really know why they are now blocked by the Russian authorities.

Read alsoAutomobile: the French group Renault leaves Russia, which recovers its assets

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Alexandra Hartman Editor-in-Chief

Editor-in-Chief Prize-winning journalist with over 20 years of international news experience. Alexandra leads the editorial team, ensuring every story meets the highest standards of accuracy and journalistic integrity.

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