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The shares of the Norwegian holding Amedia in Prime Print were transferred to the management of the Federal Property Management Agency

19 сентября 2023
47

Russian President Vladimir Putin transferred shares in the Prime Print printing house network, owned by the Norwegian holding Amedia, to the temporary management of the Federal Property Management Agency. This measure affected Prime Print divisions in Voronezh, Yekaterinburg, Moscow, Novosibirsk, and Chelyabinsk.

We remind you that by Decree of the President of the Russian Federation dated 25 April 2023 No. 302, temporary management of assets of persons from unfriendly countries can be introduced in response to illegal actions of the United States and other countries aimed at depriving or limiting the property rights of the Russian Federation, its companies and citizens. In July, the Federal Property Management Agency transferred to the management the shares of foreigners in the Russian legal entity Danone and Baltika, and later Federal Law No. 470-FZ dated 4 August 2023 was signed, allowing the exclusion of foreigners from the management of “economically significant companies.”

Nadmitov, Ivanov and Partners Law Firm advises clients on issues of sanctions law.

See Decree of the President of the Russian Federation dated 18 September 2023 No. 686 “On introducing changes to the list of movable and immovable property, securities, shares in the authorized (share) capital of Russian legal entities and property rights in respect of which temporary management is introduced, approved by the Presidential Decree Russian Federation dated 25 April 2023 No. 302"

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