By the Presidential Decree No. 520 issued on July 16, 2023, temporary administration was introduced in relation to the assets of Danone and Baltika. Specifically, the following assets were affected:
- 83,292,493 thousand shares of Danone Russia owned by Prodouy Litye Frе E Europe;
- 85,000 ordinary shares of Danone Russia owned by LLC "Danone Trade";
- 98.56% of the shares in the charter capital of Baltika Brewing Company owned by Carlsberg Sverige Aktiebolag;
- 1.35% of the shares in the charter capital of Baltika Brewing Company owned by LLC "Hoppy Union";
- 0.09% of the shares in the charter capital of Baltika Brewing Company owned by Carlsberg Deutschland GmbH.
Previously, under the Presidential Decree No. 302 issued on April 25, 2023 (the "Decree No. 302"), temporary administration was introduced for the assets of the Finnish energy company Fortum and the stake in the energy company Unipro owned by the German company Uniper.
These measures are a response to the seizure of assets belonging to Russians in "unfriendly countries." It is currently impossible to accurately predict which foreign company will be next, and whose assets will be placed under temporary administration by the Russian government.
Nadmitov, Ivanov and Partners Law Firm advises on the issue of sanctions, countersanctions and corporate law.
Tel.: +7 (495) 649-87-12