Metro’s Russian assets have been transferred to the newly registered УК Торг Рус, established on September 8 with a capital of €104. This includes full ownership of subsidiaries such as ТОВ “МЕТРО Кэш энд Керри”, which operates Metro stores in Russia, along with ТОВ “Метро Вэрхаус Ногинск” and ТОВ “Ритейл Проперти 5”. Previously, these shares were held by Dutch and German entities of Metro.
The decree took effect on the date of publication, which raised eyebrows as УК Торг Рус was registered just three weeks prior to the announcement. The sole owner and general director is Johannes Tolai, who has led МЕТРО Кэш энд Керри in Russia since 2023, having previously managed the Russian divisions of Auchan and Globus.
Despite geopolitical tensions, Metro has continued operations in Russia after 2022. The company’s sales in the Russian market increased by 6.7% to €2.6 billion in the last financial year, employing around 10,000 people. In December, Tolai told Forbes that the notion of Germans wanting to divest from Russia was unfounded.
Background
- On September 17, Putin signed a decree for temporary control of European companies’ assets including Auchan and Nestlé. This decision faced backlash from Marine Le Pen and Jordan Bardella, leaders of France’s National Rally party, who condemned it as a hostile act against French and European interests, asserting Moscow should not dictate Paris’s policies.
