Carlsberg leaves Russia: what is the price of Baltika’s assets?
4 December 2024 02:19
The Danish brewing company Carlsberg will sell its assets in the Russian company Baltika for $320 million, which will allow it to leave the Russian market. This was reported by Reuters with reference to a statement by company representatives, "Komersant Ukrainian" reports
It is noted that Carlsberg will sell shares in its Russian subsidiary Baltika to its two executives. In return, Carlsberg will receive money and regain control of its enterprises in Azerbaijan and Kazakhstan, which previously belonged to Baltika.
According to Carlsberg, the deal, which has already been approved by the Russian and Danish authorities, will be closed in the coming days.
The company did not confirm the amount of the deal, but according to the agency, it amounts to 34 billion rubles ($320.75 million).
According to Russian media, the company most likely agreed to this amount because of blackmail from the Russian regime, which threatened to “nationalize” the assets. The real price of the Baltika breweries exceeds 50 billion rubles.
After the sale, Carlsberg Group will no longer own any shares in Baltika.
As part of the deal, the parties also settled all legal disputes, including those related to intellectual property issues.
The news that Kremlin dictator Vladimir Putin issued a decree on December 2 that withdrew Baltika’s shares from the temporary management of the Federal Property Management Agency (Rosmain) is proof that the deal will go through. This structure appropriated the Russian assets of the Carlsberg Group in July 2023.
