the french group Danoneone of the few multinationals still present on Russian soil since the invasion of Ukraineannounced this Friday its intention to divest most of its activities in Russia, except for its child nutrition branch.
The group, which initially defended its presence in Russia to meet the “essential needs of the population”, now plans to cede control of its “dairy and vegetable products” branch.
This branch constitutes most of its activity in the country. Since January 2022, “it has represented around 5% of the consolidated turnover” of the group.
Danone did not specify when or who could resume the factories and activities resulting from this operation, which it considers “the best option to guarantee continuity” for employees and consumers.
The operation could “involve a depreciation of up to one billion euros” (975 million dollars at the current exchange rate) in its accounts, the group said.
In March, Danone had announced the continuity of its activities in Russia, where it employs 8,000 peopleand the suspension of their investments.
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