Yakub Zakriev, a nephew of Chechnya's leader Ramzan Kadyrov, has been appointed the new head of Russia's Danone subsidiary after the Kremlin ordered the state to take temporary control of the French yoghurt maker's business in Russia.

Yakub Zakriev, a nephew of Chechnya's leader Ramzan Kadyrov, has been appointed the new head of Russia's Danone subsidiary after the Kremlin ordered the state to take temporary control of the French yoghurt maker's business in Russia. According to a report by the news agency Reuters on Wednesday (July 19), Zakriev, 32, a deputy prime minister of Chechnya and the republic's agriculture minister, took the post of general director of Danone Russia on Tuesday. His appointment was confirmed by Chechnya's minister for national policy, foreign relations, and information Akhmed Dudayev. Taking to Telegram, Dudayev said, "Choosing him as general director of Danone Russia shows that representatives of the team of Chechen President and Hero of Russia Ramzan Akhmatovich Kadyrov are talented and successful managers." Dudayev added the 32-year-old has experience working in the most responsible positions. The end of a 30-year Russian experiment by Danone The Reuters report on Wednesday said that the appointment of Zakriev marked the end of a 30-year Russian experiment by Danone which opened a dairy store near Red Square in 1992, a year after the fall of the Soviet Union. As the chaos in the 1990s ended, Russia and the former Soviet Union were perceived as major potential markets, with relatively low consumption of dairy products by European standards along with explosive purchasing power growth. Danone had sought alliances with big local players during the boom years and went on to gain at least a fifth of Russia's dairy market. And as Russia launched its special military operation in February 2022, Danone said in October it would relinquish control of its dairy food business in Russia. Last Sunday, Russian President Vladimir Putin signed a decree which stated that the government had taken control of Danone's Russian subsidiary along with a brewery owned by beer company Carlsberg. Speaking to Reuters, a person familiar with the developments said that Danone was closely following the situation in Russia with a focus on the safety of its 7,500 staff. The person added that the company was continuing to review legal options after the seizure of its Russian assets. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Chechen leader Ramzan Kadyrov's nephew named head of seized Danone subsidiary in Russia

Russia took control of shares belonging to French agribusiness Danone and Danish brewer Carlsberg, according to a decree published on Sunday. The decree signed by President Vladimir Putin says the Russian state would "temporarily" manage shares belonging to Danone Russia and to Baltika, which is owned by Carlsberg.

Russia took control of shares belonging to French agribusiness Danone and Danish brewer Carlsberg, according to a decree published on Sunday. The decree signed by President Vladimir Putin says the Russian state would "temporarily" manage shares belonging to Danone Russia and to Baltika, which is owned by Carlsberg. Danone said it was investigating the situation and "preparing to take all necessary measures to protect its rights as shareholder of Danone Russia, and the continuity of the operations of the business in the interest of all stakeholders, in particular its employees". Baltika is a leading brewing company in Russia, with approximately 30 percent of the market share. Carlsberg announced in March that it would sell the entirety of its activities in Russia, where it employed 8,400 people. Last month the multinational brewer said it had found an unnamed buyer for the business, more than a year after announcing its exit from the market due to the conflict in Ukraine. "Following the presidential decree, the prospects for this sales process are now highly uncertain," Carlsberg said in a statement. "The Carlsberg Group has not received any official information from the Russian Authorities regarding the presidential decree or the consequences for Baltika Breweries." One of few multinationals to have remained in Russia since the Ukraine offensive began, Danone said in October that it planned to withdraw from most of its business. Danone then said it would give up the dairy and plant-based business in Russia, retaining only its infant nutrition branch. The move could result in a write-off of up to one billion euros ($1.1 billion), it said. A large number of major Western companies have pulled out of Russia since Moscow launched its Ukraine offensive on February 24, 2022. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Russia seizes shares of Danone and Carlsberg subsidiaries

French agribusiness Danone said Friday it planned to transfer control of its essential dairy and plant-based business in Russia, retaining only its infant nutrition branch.

One of the few multinationals to have remained in Russia after the invasion of Ukraine, Danone said the move to "transfer the effective control" of the dairy business could result in a write-off of up to one billion euros ($980 million).

The arm represented five per cent of Danone's net sales in 2022 so far.

Watch |&nbsp;Russia open for talks with Ukraine? Kremlin stresses on 'openness to talk'

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"Danone considers that this is the best option to ensure long-term local business continuity, for its employees, consumers and partners," the group said in a statement.

The transaction will be subject to the approval of authorities, the group added.

Danone will however retain the activities of its "specialised nutrition" arm, which includes infant milk.

Also read |&nbsp;<a href="https://www.wionews.com/world/russian-president-vladimir-putin-sees-no-need-for-talks-with-joe-biden-amid-growing-tensions-between-the-two-525508" hreflang="en">Putin sees 'no need' for talks with Biden amid growing tensions between Russia and US</a>

"Danone's priority remains to act responsibly and respectfully to its local employees, consumers, and partners throughout the process," the statement said Friday.

In March, the French group said it would continue its business in Russia, where it employs 8,000 people, as many international companies suspended operations in the wake of Moscow's invasion of Ukraine.

But in July,&nbsp;Danone spoke of the "extremely tense" operational conditions in Russia and Ukraine.

Multinational exodus

A large number of major western companies have pulled out of Russia in an exodus since Moscow invaded its pro-Western neighbour on February 24.

Starbucks and McDonald's were among the American corporations to announce their exit.

McDonald's -- which had employed 62,000 workers in Russia -- was bought by Russian businessman Alexander Govor and renamed "Vkusno i tochka" ("Delicious. Full Stop").

Also read |&nbsp;<a href="https://www.wionews.com/world/russia-begins-evacuation-of-civilians-from-kherson-in-ukraine-525227" hreflang="en">Russia begins evacuation of civilians from Kherson in Ukraine</a>

The Russian operations of Starbucks were also bought and reopened with a new name and logo.

Denmark's Lego, the world's largest toymaker, said in July that it would "indefinitely cease commercial operations" in Russia, ending its partnership with the retail group that operated 81 stores on the brand's behalf.

French automaker Renault left the country in May, handing over its assets in the country to the Russian government.

Other firms to wind down their Russian business include clothing brands Nike, Adidas and H&amp;M, Swedish furniture giant Ikea, and US tech giant Cisco.

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French agribusiness Danone said Friday it planned to transfer control of its essential dairy and plant-based business in Russia, retaining only its infant nutrition branch.

French agribusiness Danone said Friday it planned to transfer control of its essential dairy and plant-based business in Russia, retaining only its infant nutrition branch. One of the few multinationals to have remained in Russia after the invasion of Ukraine, Danone said the move to "transfer the effective control" of the dairy business could result in a write-off of up to one billion euros ($980 million). The arm represented five per cent of Danone's net sales in 2022 so far. Watch | Russia open for talks with Ukraine? Kremlin stresses on 'openness to talk' "Danone considers that this is the best option to ensure long-term local business continuity, for its employees, consumers and partners," the group said in a statement. The transaction will be subject to the approval of authorities, the group added. Danone will however retain the activities of its "specialised nutrition" arm, which includes infant milk. Also read | Putin sees 'no need' for talks with Biden amid growing tensions between Russia and US "Danone's priority remains to act responsibly and respectfully to its local employees, consumers, and partners throughout the process," the statement said Friday. In March, the French group said it would continue its business in Russia, where it employs 8,000 people, as many international companies suspended operations in the wake of Moscow's invasion of Ukraine. But in July, Danone spoke of the "extremely tense" operational conditions in Russia and Ukraine. Multinational exodus A large number of major western companies have pulled out of Russia in an exodus since Moscow invaded its pro-Western neighbour on February 24. Starbucks and McDonald's were among the American corporations to announce their exit. McDonald's -- which had employed 62,000 workers in Russia -- was bought by Russian businessman Alexander Govor and renamed "Vkusno i tochka" ("Delicious. Full Stop"). Also read | Russia begins evacuation of civilians from Kherson in Ukraine The Russian operations of Starbucks were also bought and reopened with a new name and logo. Denmark's Lego, the world's largest toymaker, said in July that it would "indefinitely cease commercial operations" in Russia, ending its partnership with the retail group that operated 81 stores on the brand's behalf. French automaker Renault left the country in May, handing over its assets in the country to the Russian government. Other firms to wind down their Russian business include clothing brands Nike, Adidas and H&M, Swedish furniture giant Ikea, and US tech giant Cisco. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Danone plans to withdraw from its businesses in Russia, write-off up to $980 million

French dairy giant Danone said on Thursday that it had agreed to buy US organic foods producer WhiteWave Foods with a view to creating a world leader for organic produce. 
 
The all-cash transaction values the US company at $12.5 billion &nbsp;and will allow Danone to double its business in the US, the French group said in a statement, adding it expected to finalise the deal by the end of the year. 
 
Danone&#39;s share price rose by more than four per cent in early Paris trading on news of the deal. 
 
&quot;Our perfect complementarity will allow us to create a uniquely-positioned organic world leader,&quot; CEO Emmanuel Faber said in a conference call. 
 
Both companies&#39; board of directors have unanimously approved the deal, Danone said. 
 
WhiteWave produces a range of organic dairy products and plant-based dairy alternatives, achieving sales of $4 billion in 2015 with such brands as Silk milk and Earthbound Farm organic salad. 
 
Since its stock market flotation in 2012, WhiteWave has generated an annual increase in operating profit of 20 per cent, Danone said. 
 
The French company said the deal would allow it to tap into consumer trends &quot;for healthier and more sustainable eating and drinking options&quot;. 
 
&quot;Organic foods and beverages and non-GMO plant-based alternatives to milk and yoghurt are among the fastest growing categories in the industry,&quot; Danone said. 
 
Dairy products are already a core business for Danone, which employs 100,000 people worldwide and generated $22.4 billion of sales last year. Its portfolio also includes baby food and water. 
 
&quot;The value-creation profile is strong. We will contribute 100 years of research and development into protein fermentation, which will be combined with WhiteWave&#39;s transformation know-how,&quot; Faber said. 
 
Danone said it had offered to pay $56.25 per share &quot;representing a total enterprise value of approximately $12.5 billion&quot;. It said the takeover will be financed entirely by debt. 
 
The deal, which is expected to produce annual synergies of $300 million by 2020, has yet to be endorsed by WhiteWave&#39;s shareholders and by competition authorities. 
 
(AFP)

Danone, which employs 100,000 people worldwide, will sign a deal with WhiteWave Foods in a bid to dominate the organic foods sector

French dairy giant Danone said on Thursday that it had agreed to buy US organic foods producer WhiteWave Foods with a view to creating a world leader for organic produce. The all-cash transaction values the US company at $12.5 billion and will allow Danone to double its business in the US, the French group said in a statement, adding it expected to finalise the deal by the end of the year. Danone's share price rose by more than four per cent in early Paris trading on news of the deal. "Our perfect complementarity will allow us to create a uniquely-positioned organic world leader," CEO Emmanuel Faber said in a conference call. Both companies' board of directors have unanimously approved the deal, Danone said. WhiteWave produces a range of organic dairy products and plant-based dairy alternatives, achieving sales of $4 billion in 2015 with such brands as Silk milk and Earthbound Farm organic salad. Since its stock market flotation in 2012, WhiteWave has generated an annual increase in operating profit of 20 per cent, Danone said. The French company said the deal would allow it to tap into consumer trends "for healthier and more sustainable eating and drinking options". "Organic foods and beverages and non-GMO plant-based alternatives to milk and yoghurt are among the fastest growing categories in the industry," Danone said. Dairy products are already a core business for Danone, which employs 100,000 people worldwide and generated $22.4 billion of sales last year. Its portfolio also includes baby food and water. "The value-creation profile is strong. We will contribute 100 years of research and development into protein fermentation, which will be combined with WhiteWave's transformation know-how," Faber said. Danone said it had offered to pay $56.25 per share "representing a total enterprise value of approximately $12.5 billion". It said the takeover will be financed entirely by debt. The deal, which is expected to produce annual synergies of $300 million by 2020, has yet to be endorsed by WhiteWave's shareholders and by competition authorities. (AFP)

Danone buys US organics producer in multi-billion-dollar deal

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