Russian President Vladimir Putin signed an order authorizing the purchase of the Russian Elevator Company from French conglomerate Louis Dreyfus. The relevant document was published on: portal Official publication of legal regulations.
According to the instructions, 100 percent of the company’s shares will be purchased from the French company within the scope of the transaction.
The document was signed in accordance with the decree “On the implementation of special economic measures in the financial, fuel and energy sectors in connection with hostile actions of certain foreign states and international organizations.”
Global traders (Cargill, Viterra and Louis Dreyfus) in July 2023 announced Cessation of grain exports from Russia. Their share in product exports was 16 percent. Analysts believed that its former subsidiaries could continue to perform their previous duties.
Then the Ministry of Agriculture of the Russian Federation announced that traders must provide information about the sale of their assets in Russia before the start of the new export season. This was necessary to obtain a sales permit. Information about the company’s future plans was not disclosed to the public.
Putin before allowed LLC Gratal will acquire 2.5% of bitumen operator Gazprom Neft.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.