Putin canceled the transfer of Danone assets in Russia to the Federal Property Management Agency – Kommersant

Russian President Vladimir Putin canceled the transfer of the assets of the French company Danone in Russia to the temporary management of the Federal Property Management Agency. Decree of the head of state published on the portal of legal acts.

Vladimir Putin transferred foreign shares in the Russian structure of the company to the temporary management of the Federal Property Management Agency in July 2023. Prior to this, Danone announced the suspension of investment projects, and then its intention to reduce its presence in Russia.

83 billion ordinary shares of Danone Russia and 85 thousand shares of Danone Trade were transferred under the management of the Federal Property Management Agency. Following this “Danone Russia” And “Danone Trade” was headed by Deputy Chairman of the Government of Chechnya, Minister of Agriculture of the region Yakub Zakriev.

Financial Times wrotethat Danone wants to sell the Russian business to the Vamin company from Tatarstan. It belongs to Mintimer Mingazov, who was appointed to the board of directors of H&N (a former subsidiary of Danone in the Russian Federation) after it was headed by Yakub Zakriev. According to the newspaper, the management of Vamin sent a letter to the Ministry of Agriculture and offered to buy Danone’s Russian assets for 17 billion rubles. Over 7 billion rubles. will be used to cover the debt for servicing the structure.

Read more in the Kommersant FM article. “”Danone Russia” will change owner”.

Lusine Balasyan