President Putin signed a decree on the transfer of foreign shares of Danone and Baltika to the Federal Property Management Agency
The shares of foreign owners in Danone and the Baltika brewing company are transferred to the temporary administration of Russia. Corresponding decree of Russian President Vladimir Putin posted on the official Internet portal of legal information.
“This decree comes into force from the day of its official publication,” the document says.
According to the decree, shares in Baltika Brewing Company LLC and shares in Danone Russia JSC are transferred to the Federal Property Management Agency.
In October 2022, the French company Danone announced its intention to leave the Russian market. Investors were offered to buy out from 75 percent of the business, subject to the possibility of repurchasing the asset. Due to the difficulties of leaving the local market, the company was ready to abandon the use of global brands. Later it became known that the company decided to localize the international brand “Activia” and rename it for the Russian market.
In turn, the Danish corporation Carlsberg Group, which includes Baltika, announced its withdrawal from the Russian market in March last year. In June 2023, the concern found a buyer for Baltika, the exact timing of the final completion of the sale of assets in the country is unknown.
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