Russian dictator Vladimir Putin transferred the assets of French flooring manufacturer Tarkett, one of the world's industry leaders, to the management of a Russian company. The corresponding decree was published on the official portal of legal information of the Russian Federation, UNN reports.
Details
According to the document, the company "Tsentr Kapital" received temporary management of stakes in the enterprises "Tarkett" and "Tarkett Rus", as well as 100% of the shares in the company "Tarkett Sommer".
Under the same decree, the Kremlin transferred the assets of other foreign companies to Russian management, including "Kappa Rus", "Ontex RU", "Eviosys Packaging Kuban", and "Mensen Packaging CIS".
Russia continues to seize the assets of foreign companies
Tarkett is one of the world's largest flooring manufacturers. According to the company, in 2024 it ranked third in the world by sales volume and was the largest manufacturer of vinyl flooring. The company has 34 plants, two of which are located in Russia.
In September, Putin had already transferred the assets of Nestlé, Metro, Auchan, and the former Leroy Merlin business to the temporary management of Russian entities.
The Kremlin makes such decisions on the basis of a decree dated April 25, 2023, which allows it to establish control over the property of companies from so-called unfriendly states.
Earlier, Reuters, citing sources, reported that European businesses continuing to operate in Russia had become the main target of this campaign. The Russian divisions of UniCredit and Raiffeisen banks were named among the potential next targets.