Danone’s Russian branch will be sold to Ramzan Kadyrov’s nephew
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The former Russian division of the French dairy company Danone will be sold to Russian investors. The newspaper “Vedomosti” reports on the agreement. There are two local investors: the company “Vamyn Tatarstan” and the deputy chairman of the government of Chechnya, the nephew of the head of the republic Ramzan Kadyrov, Yakub Zakriev. They will pay for the asset in equal shares, that is, 50% each.
Yakub Zakriev is the son of the sister of the head of Chechnya, Ramzan Kadyrov, Zargan Kadyrov, Idel.Realii clarifies. He already managed the Russian “daughter” of Danone from July 2023 to March 13, 2024, when it was under the temporary management of Rosymuschestvo by decree of the President of Russia Vladimir Putin. On March 13, Putin canceled his decree on the transfer of shares of Russian Danone to Rosymuschestvo.
The chairman of the board of Vamin Tatarstan company Mintemer Mingazov was also a member of the board of directors of JSC Danon Russia.
The French company Danone is one of the largest manufacturers of dairy products and other food products, which operates in more than 140 countries around the world. Danone came to Russia in 1992. The company’s Russian assets were registered with JSC “Danon Russia”. He owns such brands as “Prostokvashino”, “Bio Balance”, “Tyoma”, “Actual”, “Danissimo”, “Activia”, “Danon”, “Petmol” and others.
- In October 2022, the company transferred its Russian business to the management of local top managers with a buyback option for five to ten years, as well as with the preservation of a block of shares.
- On July 16, 2023, Vladimir Putin signed a decree on the transfer of the shares of the foreign owners of “Danon Russia” to the temporary management of Rosimushchestvo, that is, in fact, on their nationalization.
- In April 2023, Vladimir Putin signed a decree that actually allows for the nationalization of the assets of foreign companies in Russia. According to statements in the Kremlin, the document was developed as a response to the seizure of Russian assets abroad under sanctions.
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