Danone on the Russian takeover

Danone has taken note of the decision of the Russian authorities aiming at placing Danone Russia under temporary external administration of the Russian authorities, via the  Federal Agency for State Property Management (Rosimushchestvo). Danone is currently investigating the situation. 

On 14 October 2022, Danone launched a process to transfer the control of its EDP Business in Russia, which was progressing according to the expected schedule.  

Danone is preparing to take all necessary measures to protect its rights as shareholder of Danone Russia, and the continuity of the operations of the business in the interest of all stakeholders, in particular its employees. 

Danone joins several companies which have had operations put under state control, including Carlsberg’s Baltika operations, Germany’s Uniper and Finland’s Fortum, the Guardian newspaper reports. Russia says it is a temporary measure in retaliation for foreign moves against Russian companies abroad.