Putin Returns Russian Unit to Ariston After Lobbying From Italy
Ariston water heaters on sale at the Megatex Electronics & IT Expo show in Petaling Jaya, Malaysia.
Photographer: Goh Seng Chong/BloombergThis article is for subscribers only.
Russian President Vladimir Putin signed an order to cancel the temporary management of Ariston Holding NV’s local unit following lobbying by the government in Italy.
The Italian white goods and heating firm said it was “very pleased” by the decision to reinstate Ariston Group as the owner and manager of its Russian subsidiary. “We intend to resume activities with our Russian local leadership, adhering fully to existing sanctions, and continue our legacy in the country,” Executive Chairman Paolo Merloni said.