Rumors on Nestle’s Acquisition of Poroshenko's Roshen Have Ripple Effect

Speculation that Nestle plans to purchase Roshen Confectionery Corporation, owned by Ukrainian President Petro Poroshenko, has had a ripple effect in the media, that is why the Swiss company chose not to comment on the matter, Maurizio Patarnello, chief executive of Nestle Russia, told Sputnik Friday.

ST.PETERSBURG (Sputnik), Alexander Mosesov — When campaigning for the presidency in 2014, Poroshenko vowed to sell Roshen, which is his highest valued asset, but has failed to find a buyer yet.

This is why #oligarch @poroshenko wanted to join #EU No more EU-import dues for his chocolate products #Roshen @NOS pic.twitter.com/YR2HvJZsoa

— Geert Jeelof (@GeertJeelof) June 4, 2015

Producing 450,000 tons of confectionery products per year, Roshen is Ukraine’s largest company of its kind.

In May, Bloomberg reported that the Swiss company was willing to buy Roshen for $1 billion while Ukrainian President values it at about $3 billion. According to the media outlet, Nestle was the only potential buyer to express interest in acquiring Roshen.

"These rumors have a ripple effect in the media. Our company’s policy is not to comment on that," Patarnello said.

Commenting on the sanctions against Russia, Nestle Russia chief executive said that "We [business communities] do not believe that this [sanctions] is the right way of doing things. Many other people share this opinion."