Russia Seizes Control of Danone and Carlsberg Subsidiaries

Russia has taken control of the Russian subsidiaries of Danone and Carlsberg, putting them under "temporary management" of the state. This move comes after Moscow introduced rules allowing it to seize assets of firms from "unfriendly" countries. Both Danone and Carlsberg were in the process of selling their Russian operations. The order places the shares of Danone Russia and Carlsberg-owned Baltika Breweries under the control of Russian property agency Rosimushchestvo. Danone is currently investigating the situation and preparing to protect its rights, while Carlsberg has not received any official information regarding the consequences for Baltika Breweries.