Putin asked to place Nestlé's Russian units under 'temporary management'
KS Logistika said temporary management could lead to a change of ownership of assets valued at about $2 billion, Kommersant reported.
- On Monday, Russian firm KS Logistika asked President Vladimir Putin to place five of Nestlé's Russian units under temporary management, a move that could precede a change of ownership.
- Russia has previously used this mechanism to take control of subsidiaries from companies like Danone and Carlsberg, following its policy of exerting influence over foreign assets since 2022.
- Nestlé's Russian operations span six production sites valued at up to $2.13bn, producing coffee, confectionery, baby food, and pet food across multiple regions.
- Nestlé confirmed it has not been contacted by authorities regarding the request, stating its offices and factories continue operating while complying with all regulatory requirements.
- JPMorgan analysts warn that losing the business could reduce Nestlé's earnings per share by around 3-4%, increasing pressure for a complete withdrawal from Russia.
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Kreiszeitung
Most Western companies have withdrawn from Russia. But Nestlé remained in spite of Ukraine war. Now there is a threat of takeover.
The Vaudian multinational may lose control of its activities in Russia. A local company asks the Kremlin to place five companies of the group under supervision. A procedure that could pave the way for an expropriation, as several foreign firms have already paid for it.The threat is still conditional, but it is already worrying the markets. In Russia, the company KS Logistika asked President Vladimir Putin to place under provisional administratio…
Nestlé has six production sites in Russia. Russia has proposed placing five local operations of the Swiss company Nestlé, one of the world's largest food producers, under temporary management, according to RBC-Ukraine, citing Russian media. A little-known company, KS Logistics, has approached Russian dictator Vladimir Putin with this request. Specifically, this company wants to take control of Nestlé Russia LLC, Nestlé Kuban, Serial Partners Rus…
Nestle Faces Potential Russian Asset Control Amid Political Tensions
A Russian company, KS Logistika, has requested President Vladimir Putin to place Nestle's Russian assets under temporary administration. This move arises from Nestle's halted expansion in Russia. Although not contacted yet, Nestle continues operations there. The request could potentially lead to a change in Nestle's ownership in Russia.
Report: Nestlé could lose control of five Russian subsidiaries
Nestlé risks losing control of part of its Russian business after a local logistics company reportedly asked President Vladimir Putin to place five of the Swiss group's subsidiaries under temporary state administration.
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