A decree by Russian president Vladimir Poutine, published Thursday, would place the Russian assets of three multinationals under common control. According to the document, the shares of the Russian entities of Auchan, Nestlé and the former Leroy Merlin, renamed Lemana Pro in 2024, would be transferred to the Russian company L.E.V. Management.
The text reportedly refers to the transfer of Auchan's shares in Russia held by the French company Sogepar, as well as the transfer of assets of the Scenari Holding LP group, linked to the former Leroy Merlin. It would also target assets belonging to Nestlé Deutschland AG and to the Société des produits Nestlé. Auchan and the former Leroy Merlin belong in France to the Mulliez family and count dozens of stores across Russia.
In 2023, the French group Adeo had announced it was ceding control of Leroy Merlin in Russia to local management. Since the offensive in Ukraine in 2022 and the first Western sanctions, many multinationals have left Russia, suspended their activities or seen their assets transferred to local companies. Decathlon had halted its activities as early as March 2022, while Danone's Russian subsidiary had been seized by the state in 2023 and then resold to a nephew of Chechen leader Ramzan Kadyrov.
