Retail chains: Russia puts Metro assets under state administration
Just now, Kremlin chief Putin has had the corporations Nestlé and Auchan placed under compulsory administration. Now it's the turn of the Russian business of Metro AG.
Russian President Vladimir Putin has put the Russian business of Metro AG under temporary administration. The Kremlin has published an decree stating that Torg RUS will manage 100% of Metro's assets in Russia. This move follows similar actions taken by Putin earlier this month against Nestlé and French retailer Auchan, which the Kremlin says are companies from "unfriendly" countries that have provided support to Ukraine.
The Russian government has cited the use of military aid from these countries against Russia's civilian and economic infrastructure.
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.
Also reported by 1 other outlet
- Business: Russia puts Metro's assets under state administration handelsblatt.com
