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Carlsberg Group and Danone S.A.’s business operations and assets were reportedly seized by the Russians. This means that Moscow has taken control of the local subsidiaries of the said Danish brewer and French food manufacturing company.
Danone said that it is currently looking into the situation in Russia, while Carlsberg said it has not been officially informed of the situation or the takeover. BBC News reported that the country’s leader, Vladimir Putin, signed an order last Sunday that gives the Russian state power to control the local units of the mentioned beer and dairy companies.
Likewise, under Putin’s newly-signed order, the Russian subsidiaries of Carlsberg and Danone were put under "temporary management" of the state. It was noted that the country implemented a series of new laws earlier this year to allow the seizure of assets of firms originating from "unfriendly" nations.
These rules were created shortly after foreign firms suspended their business operations in Russia after Putin ordered the invasion of Ukraine. Before the seizure of their respective businesses, both Danone and Carlsberg are already processing the sale of their Russian units.
With Moscow’s move, Danone Russia and Baltika Breweries, which is owned by Carlsberg, were put under Rosimushchestvo, the country’s property agency. The French yogurt maker said it will take appropriate measures to protect its rights as a shareholder of Danone Russia.
“Danone is preparing to take all necessary measures to protect its rights as a shareholder of Danone Russia and the continuity of the operations of the business in the interest of all stakeholders, in particular its employees,” the company stated.
On the other hand, Carlsberg has yet to receive official information from the authorities regarding its Baltika brewery facility. The beer maker also noted that it already completed an extensive process to segregate its Russian business from the rest of the company.
As per CNN Business, the seizure of Carlberg and Danone’s business operations may increase the pressure on Western companies that are already facing harsh criticism as they failed to exit and continue to operate in Russia. Over 1,000 foreign companies have already left the country since the start of Ukraine’s invasion last year.
Photo by: Himanshu Choudhary/Unsplash
