Putin Decree Transfers Russian Assets of Nestle, Auchan to LEV Management
A decree signed by Vladimir Putin moved the Russian operations of Nestle, Auchan, Lemana Pro and FM Logistic to a firm called LEV Management.
Russian President Vladimir Putin has signed a decree transferring the Russian operations of several foreign companies to a domestic entity, in the latest move affecting Western businesses still operating in the country.
Under the order, the Russian operations of Swiss food major Nestle, French retailer Auchan, the former Leroy Merlin DIY chain — now known as Lemana Pro — and French logistics company FM Logistic were handed to a firm called LEV Management.
The decree links the transfers to Western support for Ukraine, extending a pattern of measures directed at companies whose home governments have backed Kyiv.
The four businesses span food, retail, home improvement and logistics, covering a broad slice of the consumer and supply-chain landscape in Russia. Nestle's Russian operations are the most prominent of the group, given the company's size and its wide range of food and beverage brands.
The transfer places the Russian arms of these firms under LEV Management, a company named in the decree. No further details of the arrangement were immediately available in the order.