17 Hrs
Source:
الاقتصادية
Moscow seizes assets of German Metro in Russia
Russian authorities are seizing the assets of German food wholesale company Metro in Russia and placing them under provisional management under a decree issued by President Vladimir Putin. This is part of broader operations to acquire assets of companies linked to countries supporting Ukraine, after having previously taken over assets of the French company Nestlé and other firms. Metro’s sales in Russia are estimated at approximately €2.6 billion for the fiscal year 2024/2025, with cash assets valued at €152 million in the country. The move comes amid tightening Russian restrictions on Western companies exiting the market, including the imposition of conditions requiring presidential approval before completing deals.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)