Russia nationalizes assets of US-owned food giant ...News

Russia Today - Economy
Russia nationalizes assets of US-owned food giant
source : Russia Today ( News ) () 69
Glavproduct has been placed under temporary state control by presidential decree The Russian business of a major US-owned food maker has been temporarily nationalized, according to a decree signed by Russian President Vladimir Putin on Tuesday. The holding company Glavproduct, several of its subsidiaries, and three canning plants were seized and handed over to the Russian Federal Property Management Agency, Rosimushchestvo. The government will also take control of Glavproduct’s parent company, Promselkhozinvest, which is owned by the US-registered Universal Beverage Company. Glavproduct was founded in 1999 by Ru

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