Putin transfer to unknown firm derailed Auchan Russia sale to Kama Capital

September 24, 2026 at 11:46 AM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

French retailer Auchan had agreed to sell its Russian unit Auchan Retail Russia to Kama Capital but failed to complete the deal before President Vladimir Putin placed the asset under temporary management of the little-known company L.E.V. Management. The transfer, which followed the companies' submission of documents to a government commission in early September, halted the sale. The deal could have been worth 60–70 billion rubles, according to Infoline-analytics CEO Mikhail Burmistrov.

Key Facts

Auchan and Kama Capital submitted documents for government approval in early September 2026.
President Vladimir Putin transferred Auchan Retail Russia to temporary management by L.E.V. Management shortly after the submission.
The deal could have been worth 60–70 billion rubles, according to Infoline-analytics CEO Mikhail Burmistrov.
Kama Capital, registered in June 2023, previously acquired the Russian assets of Ceetrus, a real estate structure of Auchan Holding.

Failed Sale

Auchan had been in active negotiations to sell Auchan Retail Russia and reached an agreement with Kama Capital. By early September, the companies had filed documents for approval with the government commission. Soon after, President Vladimir Putin placed the asset under temporary management of L.E.V. Management, a company unknown to the market. This decision effectively ended the sale.

Valuation and Buyer

Infoline-analytics CEO Mikhail Burmistrov estimated the deal could have reached 60–70 billion rubles including financial assets. Under current rules, the asset owner would have received no more than five percent of its real value. Kama Capital, registered in June 2023, specializes in acquiring, managing, and developing commercial real estate. The company previously bought the Russian assets of Ceetrus, the real estate arm of Auchan Holding.