Business: Russia puts Metro's assets under state administration
A few days ago, Kremlin chief Putin had the corporations Nestlé and Auchan placed under compulsory administration. Now it's the turn of the Russian business of Metro AG.
Russian President Wladimir Putin has put the Russian business of Metro AG under temporary administration. The Kremlin published an decree stating that the Russian management company Torg RUS will manage 100 percent of Metro's assets in Russia. This move follows similar actions taken by Putin earlier this month against Nestlé and the French retailer Auchan. Metro confirmed it no longer has operational control over its Russian business, and is currently analyzing the impact of the decree on the company.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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- Retail chains: Russia puts Metro assets under state administration handelsblatt.com
