MOSCOW: Assets of Auchan, Lemana Pro, and Nestle in Russia have been placed under the temporary management of L.E.V. Management, according t...
MOSCOW: Assets of Auchan, Lemana Pro, and Nestle in Russia have been placed under the temporary management of L.E.V. Management, according to a decree signed by Russian President Vladimir Putin.
TASS has compiled the key facts known so far.
Transfer of assets
- Assets of Auchan, Lemana Pro, and Nestle in Russia have been transferred to L.E.V. Management for temporary administration, according to the decree signed by Russian President Vladimir Putin.
- Specifically, 99.985% of the stake in the authorized capital of Auchan LLC previously held by Sogepar has been transferred to temporary management, according to the document.
- Another 99.993% stake in the authorized capital of Le Monlid LLC, owned by Scenari Holding LP (formerly Leroy Merlin), has also been transferred.
- Russian assets belonging to Nestle are likewise being placed under the temporary management of L.E.V. Management.
- They include 67.44% in the authorized capital of Nestle Kuban held by Societe des Produits Nestle S.A., 32.56% in the authorized capital of Nestle Kuban held by Nestle Deutschland AG, 84.082% in the authorized capital of Nestle Russia held by Societe des Produits Nestle S.A., and 15.918% in the authorized capital of Nestle Russia held by Nestle Deutschland AG.
Auchan commentary
- Auchan Retail Russia has asked for clarification following the issuance of the Russian presidential decree on putting the retailer’s assets under the temporary management of L.E.V. Management, the company’s press service told TASS.
- The retailer said it would provide a more detailed comment once it receives a response.
- The company and all its facilities continue to operate as usual, with no changes, the press service said.
Nestle statement
- Swiss company Nestle said it takes note of the presidential decree introducing temporary external management at Nestle Russia, according to a press release.
- The company said it intends to take all necessary measures to protect its rights.
Lemana Pro comment
- Lemana Pro (Le Monlid LLC) does not have official information from government authorities or any additional details regarding Putin’s decree on transferring the company’s assets to temporary management, the retailer’s press service told TASS.
- The company and all its facilities are currently operating as usual, with no changes.
- The company said it had requested the relevant clarifications and would be able to provide a more detailed comment after receiving them.
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