Putin nationalizes Nestlé and Auchan’s russian operations

Russia is placing the Russian operations of Nestlé, Auchan, and Lemana Pro – formerly Leroy Merlin – under its own so-called “temporary” management. Once again, several major Western companies are losing effective control over their Russian assets.

To L.E.V. Management

President Vladimir Putin signed a decree on Thursday transferring the relevant assets to the Russian company L.E.V. Management. These include the Russian operations of Swiss food giant Nestlé, French supermarket group Auchan, and Lemana Pro.