Russian logistics company KS Logistics has asked the Kremlin to place five Nestlé subsidiaries operating in Russia under temporary state management, with combined assets valued at approximately 160-170 billion rubles, or roughly $2 billion. The petition, filed on August 17, cites Nestlé’s decision to halt expansion plans in Russia and stop exporting Russian-produced goods as justification. Moscow has previously used this mechanism in 2023 to place assets belonging to Danone and Carlsberg under temporary management, effectively transferring operational control of major Western-owned facilities to state-appointed managers. Nestlé, which entered the Russian market in 1994 and halted all new investments in the country by 2024, has not indicated receiving any formal queries related to the petition.
Source: Read the original article
