Danone says “all options on the table” on Russia business

Danone says “all options on the table” on Russia business

By Dominique Vidalon

PARIS (Reuters) -French meals group Danone stated on Tuesday that “all possibilities are on the desk” about its business in Russia and that there was no conclusion at this phase to exit the place.

This was just after a source near to the issue mentioned Danone was on the lookout at possible approaches of withdrawing from Russia, as the West prepared new sanctions on Moscow immediately after lifeless civilians were being found lining the streets of a Ukrainian city seized from Russian invaders.

The resource experienced added no decision had yet been taken.

“The posture of Danone regarding its small business in Russia has not adjusted. All alternatives are on the table and the team is checking the scenario in close cooperation with the French authorities,” a team spokesperson reported.

A supply had explained before that Danone was “reviewing a probable withdrawal from Russia,” incorporating the organization wished to keep away from getting rid of belongings or exposing community workers to difficulty as very well as stay clear of cutting the community inhabitants from foods offer if it pulled out.

The corporation attained about 5% of its revenues in Russia in 2021 and significantly less than 1% in Ukraine.

Last month Danone claimed it would continue on neighborhood production in Russia of critical dairy and toddler nourishment goods, but experienced lower other ties with the region over its war in Ukraine. [L2N2VQ1AA]

The company reported at the time it experienced ended other imports and exports as nicely as all investments, together with advertising and consumer promotions, in Russia, and that it would not take any hard cash, dividends or income from its company there.

(Reporting by Dominique Vidalon Enhancing by Benoit Van Overstraeten)