PARIS, March 24. /TASS/. France’s ADEO, which owns the Leroy Merlin brand, has taken a decision to transfer control of its stores in Russia to the local management, according to a statement posted on its website on Friday.

"ADEO announces its intention to transfer control of Leroy Merlin Russia to the local management. After more than 18 years of activity in Russia, transferring control of Leroy Merlin to the local management should preserve the jobs of the 45,000 employees and ensure that the company's activity remains at the service of the inhabitants," the statement reads.

The transfer process is the result of work initiated several months ago "in compliance with international regulations," according to the statement. "The transaction will be subject to approval by relevant authorities in Russia. Throughout the process, ADEO’s priority is to act responsibly respecting all employees," the company said.

ADEO is part of Mulliez Group, which also owns Auchan and Decathlon chains.