Putin places assets of more foreign companies in Russia, including Tarkett, under temporary management

Russian President Vladimir Putin has placed the Russian assets of several European companies under temporary management. One of them is Tarkett, a French flooring manufacturer. The company named to run the assets is Tsentr Kapital. The move is the latest in a practice by which foreign firms' property in Russia ends up under an appointed manager.

Who is affected

Tarkett is one of the world's largest flooring manufacturers. In Russia it has two plants, in the Moscow and Samara regions.

Temporary management also covers shares and stakes in the charter capital of several other companies. These are Kappa Rus, Mensen Packaging CIS and Eviosis Packaging Kuban, which make containers and packaging. It also applies to Ontex Ru, a manufacturer of personal hygiene products.

Earlier cases

In September, Putin placed the Russian assets of the retailers Globus, Metro Cash & Carry, Auchan and Leroy Merlin under temporary management. Temporary management was also introduced at Nestlé Russia.

The source does not say how long the temporary management will last or what its terms are.