The President of Russia, Vladimir Putin, transferred to the temporary management of a Russian company the assets of European multinationals operating in the country, including the Swiss Nestlé, the French Auchan and the former Leroy Merlin, currently called Lemana Pro. The decision was formalized by decree published on Thursday (17) on Russia’s official legal information portal.
The companies’ shares were transferred to the management of LEV Management, a company registered in Moscow. The measure also covers assets of subsidiaries of French logistics company FM Logistic.
According to the Russian newspaper Kommersantthe decree includes shares from Nestlé Russia and Nestlé Kuban, in addition to the Russian subsidiary of Auchan and companies linked to the former Leroy Merlin.
Commenting on the decision, the spokesman for the Russian presidency, Dmitry Peskov, declared, this Friday (18), that the transfer of the assets of Nestlé and Auchan to temporary state management is due to the fact that these companies are from countries considered hostile to Moscow.
“We are talking about European companies, from countries considered hostile. And, of course, one of the factors taken into account in this decision was the fact that these hostile countries are currently involved in military actions against our country”, he stated.
Peskov also stated that the decision to transfer the assets to LEV Management for temporary management was taken because this was the company that “best met the necessary criteria”.
The Kremlin spokesman also linked the measure to the participation of these countries in attacks against Russian civil and economic infrastructure. Peskov did not provide specific details about the participation of the affected companies in military incidents linked to the conflict with Ukraine.
The transfer takes place through the temporary administration mechanism, used by the Russian government since 2023 to assume operational control of assets of foreign companies. The measure does not in itself imply a definitive change of ownership, although previous cases have been followed by sales or transfers of the business to Russian buyers.
Switzerland seeks to reverse decision
The Swiss government expressed concern about the transfer of Nestlé’s assets and said it intends to work to reverse the decision. The Swiss State Secretariat for Economic Affairs and the Ministry of Foreign Affairs, cited by Reutersstate that they have been coordinating efforts with the company for several weeks.
The Swiss side seeks to ensure that Nestlé has the opportunity to present its position to the Russian authorities and challenge the measure through diplomatic channels. The company, in turn, stated, this Friday, that it is evaluating the situation and the options available to protect its rights and ensure the continuity of operations.
“The company is evaluating the situation and its possible courses of action. Nestlé plans to take all necessary measures to protect its rights and ensure the continuity of business operations in the interests of all stakeholders, especially its employees,” the company said in a statement.
Source: www.brasildefato.com.br
