Putin transferred Tarkett's assets in Russia to the management of another company
Russian President Vladimir Putin has placed the Russian assets of the French flooring manufacturer Tarkett under external management. According to a decree published on October 15, the shares were transferred to the management of the "Sentr Kapital" company.
Putin transferred Tarkett's assets in Russia to the management of another company
As reported by DW, citing the decree, this decision also covers the shares of the "Tarkett" joint-stock company belonging to the Tarkett company registered in the Serbian city of Bačka Palanka.
Through the decree, temporary management was also introduced for the assets of other foreign companies in Russia. Among them are 12,565 shares of "Kappa Rus", as well as 100 percent shares of "Ontex RU", "Eviosis Packaging Kuban" and "Mensen Packaging CIS" companies.
Tarkett manufactures floor coverings for residential, commercial, industrial and sports facilities. According to DW, the company has 34 plants, two of which are located in Russia. The company also owns eight facilities that recycle old floor coverings.
In September, the assets of "Lemana Pro", the former Russian business of Nestle, Metro, Auchan and Leroy Merlin, were also transferred to temporary management.
Reuters agency, citing its sources in the Russian government, described the measures targeting the assets of major Western companies that continued operating in Russia even after the start of the full-scale invasion of Ukraine in 2022 as a response campaign to sanctions.
The agency's interlocutors did not rule out that temporary external management could also be introduced for the Russian subsidiaries of UniCredit and Raiffeisen banks. However, no decision has been reported in this regard.