3/23/2022, 1:31 PM (Source: TeleTrader)
more TeleTrader news


Chart for: NESTLE N

Nestle stops sale of several brands in Russia

Nestle S.A. announced on Wednesday that it is suspending the sale of some of its brands, including KitKat and Nesquik, from Russia. "We have already halted non-essential imports and exports into and out of Russia, stopped all advertising, and suspended all capital investment in the country. Of course, we are fully complying with all international sanctions on Russia," the company said.

"While we do not expect to make a profit in the country or pay any related taxes for the foreseeable future in Russia, any profit will be donated to humanitarian relief organizations," Nestle added.

Baha Breaking News (BBN) / DJ