Switzerland aids Nestlé in fight for Russia assets
On September 17, Russian President Vladimir Putin transferred the assets of Nestle Russia to the temporary management of the company L.E.V. Management.
Consensus
- The Russian government placed Nestlé's Russian assets under temporary management on September 17.
- The temporary administrator is 'L.E.V. Management,' an entity registered in October 2024 with a charter capital of 15,000 rubles.
- Andrey Kraushkin, a former senior official of the Russian Ministry of Internal Affairs, leads 'L.E.V. Management.'
- Switzerland is providing diplomatic support to Nestlé through its State Secretariat for Economic Affairs (SECO) and Federal Department of Foreign Affairs.
- Nestlé's headquarters in Vevey, Switzerland, has not coordinated with or approved statements made by its Russian subsidiaries.
- Nestlé is evaluating possible actions to protect its rights in Russia.
- Nestlé's Russian subsidiaries claim they will continue operations and fulfill obligations to customers, partners, and employees.
- The Russian government cited Nestlé's ownership by companies in 'unfriendly' countries as justification for the move.
- Nestlé's Russian operations employ around 7,000 people.
- Other companies affected by the same decree include Auchan, Leroy Merlin (now 'L.E.V. Pro'), and FM Logistic.
- On September 23, 'L.E.V. Management' was officially named the sole representative of 'Nestlé Russia' in the Russian registry.
Points of divergence
- Nestlé's Russian subsidiaries claimed that cooperation with 'L.E.V. Management' would promote business development and efficiency, but this was dismissed by the Swiss headquarters as 'Russian propaganda.' — meduza
- Andrey Kraushkin stated in a message to employees that Denis Voyt yuk would remain the executive director of 'Nestlé Russia' under the new management. — vesti
- The new management of 'L.E.V. Management' replaced the general directors of Auchan, Leroy Merlin, and FM Logistic with new appointees: Ilya Berdnikov, Denis Isaev, and Yevgeny Nenashyev. — kommerzant
- On September 21, 'Nestlé Russia' stated that the temporary management was not nationalization. — vedomosti
- The Swiss headquarters confirmed that all statements from Russian subsidiaries reflect the position of the temporary external administration. — meduza
Coverage (5 sources)
- Swiss Government will help Nestle, assets of which Putin handed over to temporary management, fight for their rights on the Russian market — Meduza
- NZZ: Switzerland tries to return Nestle control over business in Russia — Вечерняя Москва
- Switzerland wants to regain control of Nestle in Russia — Вести
- Swiss authorities report on diplomatic assistance to Nestle regarding assets in Russia — Коммерсантъ
- Nestle studies options for action after losing control of business in Russia — Ведомости
Key entities
- Nestlé
- Switzerland
- Nestlé
- Russia
- NZZ
- Vladimir Putin
- Moscow
- SECO
- State Secretariat
- Federal Foreign Service
- Nestle
- Swiss Nestle
- Neue Zürcher Zeitung (NZZ) on Sunday
- Die Neue Zürcher Zeitung