Vladimir Putin has transferred the assets of the German trading group Metro to a Russian administrator via decree. According to a publication made public on Monday, “UK Torg RUS” will temporarily receive 100 percent of the shares.
“UK Torg RUS” was registered in Moscow on September 8. Its primary business activity, listed in the register, is the administration of other company divisions or groups, as well as the operational steering and control of activities. However, various media reports indicate that the company’s General Director and founder is the same individual who previously headed the Russian Metro business.
Metro AG operates a chain of wholesale markets in Russia, which were opened in Moscow in the early 2000s. Currently, the company is said to operate over 90 markets across numerous regions of the country, employing about 12,000 staff members.
Recently, Putin had already placed Nestle’s shares in Russia under “temporary” compulsory administration.
