Auchan is now planning to seek permission from Russian authorities to sell its assets and avoid the kind of nationalization that has happened to international companies such as Danone and Carslberg.
The French company Auchan has decided to sell its branch in Russia due to the inability to continue operating under EU sanctions. The retailer has already selected two potential buyers for its Russian business after more than 20 years of activity. Le Figaro reported this on Thursday, October 24.
Auchan faced the impossibility of doing business in the Russian Federation because, unlike other European distributors, it strictly adheres to European sanctions against the aggressor.
It was noted that for the company the Russian market is one of the priorities along with China.
Now, Auchan’s main task is to get permission from the Russian authorities to sell assets and avoid nationalization, which has already happened to other international companies, including Danone and Carslberg.
Earlier it was reported that the company Ceetrus, part of the French hypermarket chain Auchan, closed an agreement on the sale of its assets in Russia.
Let’s remember that after the start of Russia’s massive invasion of Ukraine, the French network Auchan remained in Russia. In February 2023, the National Agency for the Prevention of Corruption added the French corporation Auchan to its list of international war sponsors.
In 2023, the media published an investigation that Auchan supplied goods to the Russian military in the occupied Ukrainian territories.
The media also reported that France is conducting an investigation into Auchan’s son in Russia.
Source: korrespondent
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