Carlsberg's Strategic Exit: Russian Asset Sale to Baltika Insiders Approved

Carlsberg is selling its Russian assets, seized earlier by Moscow, to employees of Baltika Breweries. This discounted sale is part of Carlsberg's strategized exit amid tightened Russian regulations on foreign business exits. The deal maintains valuable holdings while addressing lawsuits and IP issues.

A major development has unfolded in the beverage industry as Carlsberg announced the sale of its Russian assets to employees of Baltika Breweries. This announcement follows the approval of the 34-billion-rouble deal by Moscow, amidst strict exit conditions imposed on foreign companies.

Carlsberg, which had its assets in Russia placed under temporary management by authorities in July 2023, stated the transaction has received necessary clearances from both Russian and Danish regulators. The sale signifies a substantial step in Carlsberg's withdrawal from Russia while maintaining significant interests.

The deal involves transferring ownership to a company managed by two senior Baltika employees and settling legal disputes and intellectual property issues. Carlsberg aims to protect its business value and employees amidst challenging geopolitical and economic landscapes.

(With inputs from agencies.)