Putin Halts Seizure of Danone’s Russian Unit, Clearing Way for Potential Sale

President Putin halts seizure of Danone’s Russian subsidiary, potentially clearing way for sale to Kremlin-favored firm. Decision reverses July decree allowing transfer of assets to temporary management. Danone plans to sell to Vamin Tatarstan, linked to Putin loyalist. Russia seized control of Danone and Carlsberg A/S subsidiaries in July. Putin’s April 2023 decree allows temporary state control over assets of companies from unfriendly states. Danone shares traded 0.5% lower early Thursday in Paris.