Danone sells its Russian subsidiary to a close friend of Chechen leader Kadyrov. The transaction is valued at 17.7 billion rubles, or 177 million euros.
The total loss recognized by Danone is 1.2 billion euros. After the start of the war in Ukraine, Danone considered suspending its activities in Russia, a market which represented 5% of its global turnover. The group was one of the first multinationals to set up there in 1992, after the collapse of the Soviet Union.