Carlsberg sells Baltika and finally leaves the Russian market

Danish brewery Carlsberg has sold shares in its Russian subsidiary Baltika to two of its executives. In return, Carlsberg will receive the money and regain control of its enterprises in Azerbaijan and Kazakhstan, which previously belonged to Baltika.

The deal is expected to be completed in the next few days. This is reported by UNN with Reference to the Carlsberg Group.

Details

Carlsberg Group CEO Jakob Aarup-Andersen has announced that the company has completed a deal to sell its shares in the Russian brewery Baltika.

This step was the result of a long process of exiting the Russian market, which began back in 2022.

We have exhausted all possibilities to find a way to leave Russia completely, protecting our employees, assets and the value of Carlsberg's business. Thanks to this agreement, we will be able to settle numerous court cases and issues related to intellectual property. We believe that this is the best possible result under the current circumstances

The new owner of Baltika is a company created by two top managers who have been working at Baltika for many years and hold leading positions. They will lead the company as CEO and Deputy CEO.

Since December 2, Baltika is no longer under the interim administration of the Russian state, and the current external leaders appointed by the Russian authorities in 2023 will leave their posts.

The agreement was approved by both the Danish and Russian authorities. After the sale, Carlsberg Group no longer owns any shares in Baltika.

As part of the agreement, the parties also settled all legal disputes, in particular those related to intellectual property issues.

recall

The withdrawal of corporations from the Russian Federation after its full-scale invasionin Ukraine cost foreign companies more than понад 107 billion in write-offs and lost profits.