Leroy Merlin plans to transfer control of its Russia business to local management, the DIY retailer's parent company Adeo said in a press release.

The process was initiated several months ago, it said.

Transferring control should ensure that the company can operate locally and preserve the jobs of the 45,000 employees.

The transaction will be subject to approval by relevant authorities in Russia.

Leroy Merlin said in March last year that it would continue to operate in Russia.