The Russian State has taken control of the assets in Russia of the French group Danone and the Danish Carlsberg, when the latter had announced its intention to leave the Russian market.
According to a decree signed by Vladimir Putin and published this Sunday on the official Russian legal portal, 98.56% of the shares of the Russian brewery Baltika, owned by Carlsberg, and tens of thousands of shares belonging to Danone are placed “temporarily” under Russian rule. state control.
The two groups had chosen to withdraw from this large eastern market in reaction to the Russian offensive in the Ukraine.
A recall initiated in October by Danone
In detail, this decree specifies that 83,292,493,000 shares of “Danone Russia”, owned by the group “Produits Laitiers Frais Est Europe”, still according to the decree, are placed under the control of the Russian state, as well as another 85,000 shares belonging to the group “Danone Trade”.
At the end of June, the Danish brewer Carlsberg announced that it had found an unnamed buyer for its activities in Russia, more than a year after announcing its withdrawal from the country following the Russian offensive in Ukraine. The group announced at the end of March 2022 the sale of its important activities in Russia, where it has 8,400 employees and has owned the Russian brand Baltika since 2000.
In October 2022, Danone announced its decision to relinquish control of its dairy and plant-based products arm. A separation that would mean a loss of 1,000 million euros. However, the firm indicated that it would maintain its small infant milk production activity in the territory.
Impairment of up to 1,000 million euros for Danone
The group, which had initially assumed its presence in Russia to meet “the essential food needs of the civilian population,” said it planned to cede control of its “dairy and vegetable products” branch, retaining only child nutrition.
The French giant had specified that this withdrawal operation could “lead to a depreciation of up to 1,000 million euros” in its accounts.
Danone markets milk and yoghurts in Russia under the Danone, Danissimo or Prostokvashino brands. In 2010, the group had bought 57.5% of the number two Russian dairy, Unimilk (21% market share and 25 factories).
Since the attack on Ukraine by Russia on February 24 and the first economic sanctions decreed by the West, many multinationals have left Russia, others have suspended their activities there, in the oil, automobile or luxury sectors.
Source: BFM TV
