Shares of Danone’s Russian subsidiary will be returned from the interim management of the Federal Property Management Agency. Russian President Vladimir Putin’s decree on this issue published on the official legal information portal.
According to the decree, the decision on the temporary management of some properties belonging to Danone Russia JSC’s Produits Laitiers Frais Est Europe and Danone Trade companies was declared invalid.
The decree did not state why Putin canceled his decree. In February, The Financial Times (FT) newspaper quoted sources as saying: reportedHe said the French company Danone, whose assets in Russia are under the temporary management of the Federal Property Management Agency, is considering the Tatarstan company Vamin as a potential buyer of its business.
Previously at Danone Reacted For information on plans to sell the Russian subsidiary.
Formerly Danone stated To explore opportunities to adapt the company’s brands to the Russian market.