Danone, the French multinational food-products corporation, is planning to sell its Russian operations to a businessman linked to Chechnya, specifically to a nephew of Ramzan Kadyrov. This move comes seven months after Vladimir Putin ordered the seizure of Danone's local operations, installing a Kremlin-backed management team. The decision to sell to a Kadyrov-linked figure indicates Danone's strategy to navigate the challenges posed by Putin's 'temporary external management' of foreign businesses in Russia, as reported by @courtney_ft and @AdrienneKlasa. Meanwhile, Danone's sales have shown an increase, aligning with expectations amid easing inflation for the yogurt maker.
Danone’s sales rise in line with expectations amid easing inflation for the yogurt maker https://t.co/Y2Uhq3FCBr
Danone has reportedly succeeded where Carlsberg failed, and all it took was playing ball and selling out to Kadyrov’s nephew, proving that Putin’s “temporary external management” can be overcome — for a price. https://t.co/8nP9tGHalS
⚡️ FT: French company Danone plans to sell Russian subsidiary to Kadyrov-linked businessman. https://t.co/GUxlGjvdgF
Danone is planning to sell its Russian business to a member of its Kremlin-installed management linked to Ramzan Kadyrov's nephew, seven months after Vladimir Putin ordered the seizure of its local operations. Scoop by @courtney_ft and @AdrienneKlasa https://t.co/TH6dT8Yy87
Danone plans to sell Russian operations to Chechnya-linked businessman https://t.co/rkOUAM0L7Q