Nestle commented on the transfer of Russian assets to the interim management

Nestle took note of the decree of the President of Russia on the transfer of its assets in the country for temporary management. This was stated by the press service of the company.

Nestle is assessing the situation and options for further steps that can be taken. “The company is committed to taking all necessary steps to protect its rights and ensure business continuity for the benefit of all stakeholders, especially its employees,” the company said.

On the eve of the President of Russia Vladimir Putin signed a decree on the transfer of Nestlé Kuban and Nestlé Russia to the temporary management of L.E.V. Management. The document shows that 67.44% of the shares of the first company is owned by Societe des Produits Nestle S.A., and 32.56% by Nestle Deutschland AG. In Nestlé Russia, 84.1% of the shares are owned by Societe des Produits Nestle S.A., 15.9% by Nestle Deutschland AG.