Le Monde learned about Metro’s request to Russia for external management
Metro has requested that it be placed under temporary management, hoping to “keep more control over its destiny,” Le Monde said. Assets of Metro Cash & Carry went under the external management of JSC “UK Trading RUS”
The German group Metro itself appealed to the Russian authorities with a request to transfer it to temporary management, according to a Russian source Le Monde. To avoid the worst-case scenario, Metro seems to have decided to get ahead of the curve.
“The German company itself appealed to the Kremlin with a request to transfer it to the regime of “temporary management” in the hope of retaining more control over its fate,” the source said.
“This is a risky move. However, there is always the possibility of a peaceful settlement - the sale of business on more favorable terms. It remains unclear what retaliatory steps the Kremlin will require, the source said.
The press service of the Russian Metro reported that they did not comment on this information.
RBC sent a request to the press Secretary of the President Dmitry Peskov.
Metro AG is a German international wholesale company specializing in the supply of food and other goods for hotels, restaurants, cafes and independent merchants. The company operates in more than 30 countries, operates a network of wholesale stores under the Metro and Makro brands. In fiscal year 2024/25, its revenue was €32.4 billion.
At the end of September, the assets of Metro Cash & Carry were transferred to the external management of JSC “UK Trading RUS”. The press service of the Russian Metro RBC explained this decision in relation to Metro Cash & Kerry LLC and Metro Warhouse Noginsk LLC the need to ensure the safety of employees and infrastructure, as well as the continuity of business processes. Metro refers to the facilities of critical infrastructure that ensures the sustainability of supply and retail, they said. We assured that the company continues to operate normally, all operating processes remain unchanged.
Metro AG, in turn, reported that it is assessing the consequences of the transfer of Russian assets under temporary management. "Although Metro Russia formally retains ownership of Metro AG, the decree means that Metro itself no longer exercises operational control over the company," Metro said.
In particular, under the management of “UK Trading RUS” transferred 100% of the shares in LLC “Metro Warhouse Noginsk”, previously owned by Metro Cash & Carry Russia B.V., 54.45% of the shares in LLC “Metro Cash & Kerry” owned by Metro Cash & Carry International Holding B.V., and the remaining 45.55% in the same company owned by Metro Cash & Carry Russia B.V.
90 and 10% of the shares in Retail Property 5 LLC were also transferred under temporary management. They were previously owned by Metro Retail Real Estate GmbH and Metro Properties Holding GmbH respectively.
Moscow “does not take anything from anyone, does not steal or nationalize,” President Vladimir Putin said at the plenary session of the Valdai Forum. He explained the introduction of external management in foreign companies by creating conditions under which, in the event of nationalization or, in other words, the robbery of our companies, we could respond in a mirror image.
The Kremlin said that the decrees on temporary management “in no way” are aimed at changing the owner, but not the last factor in making decisions “was that we are talking about companies that are related to unfriendly countries.” According to Peskov, this is a reversible process, but the Russian side does not yet see any prerequisites for this.
