A presidential order published Monday places Metro's Russian stores and real estate under temporary administration. The assets are assigned to JSC UK Torg Rus, a newly registered Moscow company with 10,000 rubles ($118) in charter capital. Corporate filings list Johannes Maria Tolay as CEO, the same executive who heads Metro's operation in Russia. Metro did not provide a comment right away when asked.
A separate decree says OOO Softeks, described as a little known company, is buying Western Union's assets in Russia.
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This follows a growing pattern of the state taking control of foreign-owned assets. Earlier this month, AO L.E.V. Menedzhment was assigned temporary control of six facilities owned by Nestle SA and more than 200 outlets operated by French grocer Auchan, by order of President Vladimir Putin. The Kremlin linked those seizures to European military support for Ukraine.
Russia is one of Metro's largest markets, with €1.43 billion ($1.6 billion) in revenue recorded in the first half of its 2025-2026 financial year. The Russian arm lists 88 stores across multiple regions and nearly 20,000 employees on its LinkedIn page. For investors watching companies with sizable exposure to countries asserting control over foreign assets, this is a reminder that political risk can affect who controls the cash flows, not just how big they are.
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