world news news dispatch
Russia took control of shares belonging to French agribusiness Danone and brewer Carlsberg, according to a decree published Sunday. news dispatch
The decree signed by President Vladimir Putin says the Russian state would “temporarily” manage shares belonging to Danone Russia and to Baltika, which is owned by Carlsberg.
Baltika is a leading brewing company in Russia, with approximately 30 percent of the market share.
Carlsberg announced in March that it would sell the entirety of its activities in Russia, where it employed 8,400 people.
Last month the multinational brewer said it had found an unnamed buyer for the business, more than a year after announcing its exit from the market due to the conflict in Ukraine.
One of the few multinationals to have remained in Russia since the offensive began, French agribusiness Danone said in October that it planned to withdraw from most of its business.
Danone then said it would give up the dairy and plant-based business in Russia, retaining only its infant nutrition branch.
The move could result in a write-off of up to one billion euros ($980 million), it said.
A large number of major western companies have pulled out of Russia in an exodus since Moscow launched its Ukraine offensive on February 24.
bur/lcm
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