Putin places German retailer Metro’s Russian assets under temporary control of a company registered three weeks earlier
Russian President Vladimir Putin signed a decree placing German retailer Metro’s Russian assets under temporary management. Metro has remained in the country since the start of Russia’s full-scale invasion of Ukraine.
The decree appointed JSC UK Torg Rus as temporary manager, giving it control of a 100% stake in Metro Cash & Carry LLC, which operates the chain’s hypermarkets in Russia, as well as Metro Warehouse Noginsk LLC and Retail Property 5 LLC.
The Bell reported that UK Torg Rus was registered on September 8, three weeks before Putin signed the decree. Its sole owner is Johannes Tolay, who has headed Metro Cash & Carry since 2023.
In a separate decree, Putin authorized the sale of Western Union’s Russian subsidiary. Softeks LLC will buy Western Union DP Vostok LLC. The sale price has not been disclosed.
On September 17, Putin signed a decree placing the Russian assets of Auchan, Nestlé, Lemana PRO (formerly Leroy Merlin), and logistics operator FM Logistic under the temporary management of L.E.V. Management. The Kremlin said the measure was imposed because the companies were based in countries Russia considers unfriendly — countries “that are now heavily involved in military action against our country.”
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