Further to the introduction of temporary administration over the Russian businesses of Auchan, Nestlé, FM Logistic, Lemana PRO (formerly Leroy Merlin) and Metro AG in September 2026, on 15 October 2026 the Russian President introduced, by Decree No. 738, temporary administration over the Russian assets of the floor covering manufacturer Tarkett (France), the producer of care products Ontex (Belgium) and the packaging businesses in Russia of Georg MENSHEN GmbH & Co. KG (Germany), Sonoco Packaging Netherlands Investments B.V. (the Netherlands) and Sverige International Holdings AB (Sweden).
Management company Center Capital LLC has been appointed as temporary administrator in charge of all of these assets. Currently there is limited information on that management company available publicly.
The list of the assets under temporary administration attached to Presidential Decree No. 302 dated 25 April 2023 On Temporary Administration of Certain Assets (the Decree) has been expanded accordingly.
As we advised in our previous client alerts, under the Decree, the temporary administrator may exercise the rights of the owner of the relevant assets, except for the right of sale. The attendant costs are to be covered from the operating proceeds of the assets concerned. The administration will terminate if and when so decided by the President.
There is no official explanation for the decision taken by Russian authorities in relation to the companies impacted and the only comment available in press is that these companies are associated with unfriendly states.
The alert is available at the link:
https://stonebridgelegal.ru/media/files/Russian_counter-sanctions_regulations_ENG_16.10.26.pdf
