Danone Says ‘All Options on the Table’ on Russia Business | Investing News

PARIS (Reuters) -French food stuff group Danone mentioned on Tuesday that “all options are on the table” regarding its business enterprise in Russia and that there was no conclusion at this stage to exit the place.

This was right after a supply near to the make any difference mentioned Danone was on the lookout at feasible means of withdrawing from Russia, as the West organized new sanctions on Moscow right after lifeless civilians have been identified lining the streets of a Ukrainian city seized from Russian invaders.

The source had extra no decision had nevertheless been taken.

“The position of Danone pertaining to its business in Russia has not adjusted. All choices are on the table and the group is monitoring the problem in close cooperation with the French govt,” a group spokesperson stated.

A source experienced stated earlier that Danone was “reviewing a attainable withdrawal from Russia,” adding the business wanted to keep away from getting rid of assets or exposing community workers to difficulties as properly as prevent slicing the community population from food stuff offer if it pulled out.

The enterprise attained about 5% of its revenues in Russia in 2021 and fewer than 1% in Ukraine.

Last thirty day period Danone explained it would proceed neighborhood manufacturing in Russia of vital dairy and toddler nourishment solutions, but experienced lower other ties with the country more than its war in Ukraine. [L2N2VQ1AA]

The organization explained at the time it had finished other imports and exports as properly as all investments, together with advertising and shopper promotions, in Russia, and that it would not just take any cash, dividends or income from its business enterprise there.

(Reporting by Dominique Vidalon Enhancing by Benoit Van Overstraeten)

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