French media reports that French hypermarket chain Auchan found local buyers for its Russian operations, and has entered final negotiations to exit the market.
RFE/RL reported that the French retail giant Auchan was preparing to leave the Russian market once it found local buyers for its operations. La Lettre and Le Figaro both reported this on 24 October 2024. Le Figaro reported that the company had shortlisted two local buyers for final negotiations and has entered into final negotiations.
While most Western companies stopped their business in Russia within the first two-years of the ongoing full-scale invasion, Auchan has continued to operate for 2.5 years.
The decision is reportedly made amid deteriorating economic conditions, primarily due to sanctions imposed against Russia after its invasion of Ukraine.
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