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Moscow Seizes Russian Subsidiaries Of Danone And Carlsberg’s Baltika

Published by: dailynews
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Moscow has taken control of the Russian subsidiaries of Danone and of Carlsberg’s Baltika Breweries, according to a decree signed into law by President Vladimir Putin on Sunday.

The decree said Russia was taking under “temporary administration” the shares of Russian companies owned by the French food group and the leading Russian beer producer.

The move marks the first time that Russia has seized the subsidiaries of western businesses since it took over Finland’s Fortum and Germany’s Uniper in April.

The Kremlin did not provide further details on Sunday but has previously described such moves as a response to western confiscations of Russian assets.

Read the full story on the Financial Times here.