Reports Nestlé may lose control of five Russian subsidiaries
Reports of possible compulsory administration for Nestlé’s Russian subsidiaries pushed its shares lower. Nestlé said Russia accounts for about 2% of group turnover and operates six production sites making brands including Nescafé, confectionery, baby and pet food. JPMorgan expects the risk to increase pressure for full withdrawal, similar to Danone’s 2023 state-admin case.