May 19, 2024
The French dairy products company Danone has finalized the sale of its Russian operations, accounting for about 5% of its global sales, after more than 30 years in the country.
The company announced it completed the sale to Russian dairy company Vamin R LLC after obtaining necessary regulatory approvals.
The sale was valued at 17.7 billion rubles, although experts estimated the assets’ worth between 60 and 80 billion.
This deal, originally initiated in October 2022, faced delays due to a decree by Russian President Vladimir Putin that nationalized Danone’s Russian assets.
In April, Danone also launched a dissolution of its last subsidiary in Belarus, DanoneBel.
Hundreds of companies have exited the Russian and Belarusian markets since the start of Russia’s full-scale invasion began in February 2022.
https://kyivindependent.com/danone-finalizes-sale-of-assets-and-exits-russia
It’s about time! I have mixed feelings about this because it took so long for Danone to exit the crime syndicate. Yet, it’s laudable because many others are still doing business with the criminals, helping to finance this war that the West is spending large sums of money to counteract. Surely, this is a big fat HYPOCRISY, GREED, and utter STUPIDITY of the West, spelled loud and clear.
An eye-watering number of blue chip companies continue to trade in the cauldron of devilry :
https://leave-russia.org/staying-companies
This is just a few :
P&G, Unilever, Mars, Nestle, Pepsi, Philip Morris, Auchan, Leroy Merlin, Japan Tobacco, Metro, Mondelez, L’Oreal, Ferrero and shitloads of chicom outfits like Geely, Chery, Great Wall etc.
All of these should be required to pay a 100% tax on all profits since 2014; proceeds; many $billions, going to Ukraine,
The way the article was written it seemed their operation was nationalized in 2022. Not sure if after nationalization you own anything. Not sure
Better late than never! Ok, Danone did the right thing, sure not an easy decision for the corporation. Respect. But what about effing Pepsi and Nestle? No intention to end business in Russia so far! Those corporation without a conscience needs to be named and shamed and sanctioned!
👿
I agree Gray but we have been trying to humiliate these companies for over two years to no avail. I believe there is no redeeming shit heads…once a shit head always a shit head, sadly.
Right, Captain, good point. So, we’re past the phase of naming and shaming, sanctions need to be put into effect instead. Only financial hurt will make those unscrupulous wheelers-and-dealers think twice. 😠