Auchan’s parent company has sold its shopping centers in Russia

Mulliez family companies are gradually refusing to maintain their location in Russia. ELO, the holding company that oversees the distribution business with Auchan and the real estate business with New Immo Holding, posted a press release on its website on April 5 saying it had sold its real estate business in Russia. Reason given: “Regular Arbitrage of Assets and Geographical Locations “, without further details. The context related to the war in Ukraine is not mentioned.

Including real estate company Ceetrus (formerly Immochan) and real estate services housed in subsidiary Nhood, New Immo Holding has “Sold on March 25, 2024, its real estate assets in Russia through the sale of its Russian subsidiary, the company Ceetrus OOO.”, which operated nineteen shopping centers. Auchan supermarkets are located in many of them, for example, in Volgograd or Krasnogorsk.

In the 2023 financial report, New Immo Holding, which has been operating in Russia and Ukraine for more than 15 years, specifies that Despite the Russia-Ukraine conflict that started on February 24, 2022.His exposure remained on these two countries “limited”. But this “In this context of war”Real estate experts at the end of 2023 could not evaluate his assets in Ukraine and Russia. December 31, 2023. As of December 31, 2021, 3.6% and 6.6%, respectively.

Auchan supermarkets remain in Russia

According to Russian media RBCFrom April 12, according to state records, the new shareholder of Ceetrus in Russia would be Trade Galleries. Its main owner, through entities “Kama Capital JSC and Kama Capital Management Company, is Tagir Robertovich Shaymardanov”write RBC Sunday on its website. According to him, at the age of 23, he “Owns the companies Outlet Central and Outlet North-West”structures Designed to acquire Heinz stores in Kotelnik near Moscow and Pulkovskoe Highway in St. Petersburg..

If the Mulliez have vacated their shopping centers in Russia, they continue to operate their large food stores there. An Auchan representative confirms the world that“There are no plans to leave Russia”. Established since 2002, the brand operates 94 hypermarkets, 138 supermarkets and employs 28,000 people.

Repeatedly suspected of aiding the war effort in Russia, Brand has consistently reiterated that it remains ” to feed the population and not let go of its employees”. In its annual results published at the end of February, Auchan indicated that cumulative sales in the two warring countries fell 4.2% in 2023, while its operating profit fell 29%.