Tgcom24
The nationalization decree signed by Putin
It was Russian President Vladimir Putin who signed the decree for the transfer of the Russian subsidiaries of the two Italian and German companies to Gazprom Domestic Systems, the company of the state group Gazprom which produces household appliances, according to the Interfax agency. The decree posted on the official portal for legal information concerns Ariston Thermo Rus Llc, controlled by Ariston Holding, and Bsh Household Appliances Llc, controlled by Bsh Hausgerate Gmbh. The reasons for the decision were not disclosed.
Urso hears the president of Ariston: “We will help you”
After Putin’s decision, the Minister of Business and Made in Italy Adolfo Urso had a telephone conversation with Paolo Merloni, president of Ariston, to discuss the situation and to express the closeness of the government, ready to protect the company in each location. The minister is in Pescara to meet the president of the Marche, Francesco Acquaroli: in fact, the Italian multinational has its central and operational headquarters in the region.
Ariston: “Extremely surprised by Russia, let’s evaluate the implications”
“While awaiting explanations on the unexpected measure, we are evaluating its implications, also from a governance and management point of view”, wrote the Ariston group regarding the situation. “The Ariston Group, active industrially in the Russian Federation for almost 20 years – added the note – with very correct relations with local institutions, was not informed in advance of the Decree and is extremely surprised by this initiative”.
The case of the French Danone and the Danish Carlsberg
Last year, Putin signed another decree temporarily transferring the management of the Russian subsidiaries of Danone and Carlsberg to the Federal Agency for Property Management, Rosimushchestvo. The measure was adopted after the French and Danish companies had announced their intention to exit the Russian market. 98.56% of the shares of the Russian brewery Baltika, belonging to Carlsberg, and tens of thousands of shares belonging to Danone were placed under the control of the Agency. In the case of Ariston and Borsh, however, management passes to Gazprom, another industrial group, although controlled by the government.
EU: “Moscow despises rules, revokes measures on companies”
“Russia continues to take measures against EU companies operating in the country. A Russian company, part of the Gazprom group, has now placed branches of Italian and German companies under ‘temporary external management’. These measures, which take aimed at legitimate economic activities, are yet another proof of Russia’s contempt for international law and rules. Russia confirms itself as an unpredictable actor also in the economic field”. This is what the EU External Action Service declared on the Ariston and Bosch affair, inviting Moscow “to revoke these measures and seek acceptable solutions with European companies”.
