Carlsberg sold a stake in Russian “Baltika”

Brewing company Carlsberg Group has agreed to sell its shares in the Russian company "Baltika".

This is stated on the companyʼs website.

The deal is expected to close in the next few days. Carlsberg Group will receive monetary compensation, as well as shares of the Baltika brewing companies in Carlsberg Azerbaijan and Carlsberg Kazakhstan.

"Since announcing our intention to leave Russia in 2022, we have exhausted all options to find a way to achieve a full exit from Russia while protecting our employees, our assets and the value of the Carlsberg business. With todayʼs announcement, we will settle numerous lawsuits and intellectual property rights issues related to the Baltika brewing company," said Carlsberg Group CEO Jakob Aarup-Andersen.

The deal will be bought out by management. The new controlling shareholder of the brewing company "Baltika" will be a company owned on a parity basis by two long-time employees of "Baltika", who currently hold management positions in the company.

From December 2, the brewing company "Baltika" is no longer under the temporary management of the Russian Federation, and the current external management, which was appointed by the Russian government as the management of "Baltika" in 2023, will leave their positions.

• Back in March 2022, the Carlsberg company informed about its decision to leave the Russian Federation because of the war it had unleashed in Ukraine.

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