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Vladimir Putin signed Executive Order On Amendments to the List of Movable and Immovable Property, Securities, Stakes in Equity (Joint) Capitals of Russian Legal Entities and Property Rights Subject to Temporary Administration, As Approved by Presidential Executive Order No. 302 of April 25, 2023.
According to the Executive Order, the stakes held by foreign owners in the Russian subsidiary of the Danone dairy products manufacturer and in the Baltika Breweries have been transferred to the temporary administration of the Federal Agency for State Property Management.
The list of securities subject to temporary administration includes 98.56 percent of shares in the equity capital of Baltika Breweries owned by Carlsberg Sverige Aktiebolag, 1.35 percent owned by Hoppy Union LLC and 0.09 percent owned by Carlsberg Deutschland GmbH, as well as shares in Danone Russia owned by Produits Laitiers Frais Est Europe and shares in the same company owned by Danone Trade LLC.
July 16, 2023