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Putin seized Metro's Russian assets — who will manage them

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Metro's Russian business, worth 50–80 billion rubles, was transferred to the temporary management of JSC "UK Torg Rus." The assets of Auchan, Nestlé, and others were transferred to "L.E.V. Management."

Russian dictator Vladimir Putin has transferred the Russian business of the Metro Cash & Carry retail chain, which experts estimate at 50–80 billion rubles, to temporary administration, UNN reports, citing Russian media.

Details

According to Russian media, JSC "UK Torg Rus" has been appointed as the administrator. It was established shortly before this procedure by Johannes Tolay, Metro's CEO in Russia.

Under a different scenario, the Russian businesses of the French chains "Auchan" and "Leroy Merlin," the logistics operator FM Logistic, and the Swiss food producer Nestlé were transferred to external administration. These assets were temporarily transferred to a third company—"L.Ye.V. Management," which previously had no connection whatsoever to the assets it received.

Nestlé’s assets were transferred under the Kremlin’s control, but the company assures that it will "continue operations" in russia21.09.26, 22:44

Antonina Tumanova Economy
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