Deals
Russia Seizes Candy Factory Owned by Ukraine Leader Poroshenko
This article is for subscribers only.
A Russian court ordered the seizure of a factory belonging to Ukrainian President Petro Poroshenko’s confectionery business Roshen, hampering his plans to sell assets, the company said.
Roshen lost the right to manage some properties at the Lipetsk facility south of Moscow until September 13, according to a statement on the company’s website on Tuesday. The court alleges that Roshen illegally claimed 180 million rubles ($3.5 million) in value-added-tax refunds, Roshen said, adding that it will challenge the ruling. Anna Fadeeva, a spokeswoman for the Basmanny district court in Moscow, didn’t answer repeated phone calls for comment.