Moscow has accredited a €300mn deal for Danish brewer Carlsberg to promote its Russian property to native firm VG Make investments, in response to authorities paperwork seen by the Monetary Instances.
The Kremlin has put tight restrictions on western firms attempting to exit the Russian market following the full-scale invasion of Ukraine.
Russia took management of Carlsberg’s subsidiary Baltika Breweries in July 2023 and positioned it beneath “momentary administration”. In October that 12 months, Carlsberg stated it had written off the enterprise and accused the Russian authorities of getting “stolen” Baltika.
Carlsberg Group stated on Tuesday that, as a part of the sale, Baltika Breweries will switch all its shareholdings in Carlsberg Azerbaijan and Carlsberg Kazakhstan to the Carlsberg Group.
Jacob Aarup-Andersen, CEO of Carlsberg Group, stated: “With at present’s announcement, we’ll settle quite a few lawsuits and IP rights points associated to Baltika Breweries. Contemplating the circumstances, we consider it’s the greatest achievable final result for our staff, shareholders and the continued enterprise.”
