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Russia seizes control of Danone and Carlsberg assets in response to sanctions

  • Russia has seized control of the local subsidiaries of Danone and Carlsberg.
  • The government decree allows seizure of foreign-owned assets if Russian assets abroad are seized or threatened.
  • The moves raise pressure on Western companies still operating in Russia to leave the country.
  • The seizures throw into doubt Carlsberg's planned sale of its Baltika Breweries unit and Danone's sale of its Russian dairy business.
  • Prior foreign companies affected include Germany's Uniper and Finland's Fortum.
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