The Kremlin leader has divested the Russian assets of household appliance manufacturers Bosch and Ariston.
Russian President Vladimir Putin transferred the Russian subsidiaries of the Italian water heating company Ariston and the German manufacturer of household appliances Bosch to the temporary management of Gazprom structures. The corresponding order was published on the Russian legal information portal.
We are talking about 100% Ariston Thermo Rus LLC, owned by Ariston Holding NV, and BSH Household Appliances LLC, owned by BSH Hausgerate GmbH. These companies were transferred to the temporary management of JSC Gazprom Household Systems.
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Gazprom Household Systems produces household appliances under the brands Flama, Darina, Tessa, Lada Nova and is the largest manufacturer of gas household appliances in Russia.
Since the summer of 2022, Bosch has been looking for a buyer for its factories in the village of Strelna near St. Petersburg, which manufactured refrigerators and washing machines. After the full-scale invasion of the Russian Federation in Ukraine, business activity stopped.
In total, Bosch has seven factories in Russia. The Engels plant was purchased by S8 Capital holding in April 2023, and the Robert Bosch Samara plant was purchased by the Scientific Research Automobile and Motor Vehicle Institute.
According to Russian media reports, at the end of last year Bosch planned to sell its factories near St. Petersburg to the Turkish investment fund Can Holding for $20 million, but the deal was not completed.
Ariston in Russia has a plant in Vsevolozhsk, Leningrad region.
As reported, the Kremlin continues to confiscate large enterprises of the Russian economy with subsequent nationalization or transfer to the control of businessmen close to the government. Earlier, Putin signed a decree transferring the assets of the Agroterra company, one of the country’s top 15 largest landowners, under state control.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.