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The Economic Times
The Economic Times
National

Russia seizes Nestle, Auchan, Lemana Pro and FM Logistic assets in latest Western corporate takeover

Warsaw: Russian authorities have seized the residual businesses and assets of Swiss food giant Nestle and three French groups, the latest move against Western firms in response to sanctions against Moscow over its war against Ukraine.

A decree signed by President Vladimir Putin issued late Thursday transferred the Russian operations of Nestle, French retailer Auchan and the former Leroy Merlin DIY chain, now known as Lemana Pro, to a company called LEV Management.

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