The French-owned dairy processor Danone began the process to follow that trend and sell its Russian business October 14, 2022. Though they say the deal was progressing forward, it had not yet been completed, and last week, foreign-owned stakes in the comp
Russian authorities have placed Danone’s Russian subsidiary under ‘temporary external administration’. Baltika Breweries, in which Carslberg owns a stake, is now also under Putin’s control.
Danone SA reported that Russian authorities have placed the company’s Russian subsidiary under ‘temporary external administration’ – a measure linked to the Kremlin’s bid to strike back at ‘unfriendly states’ over economic sanctions.