Carlsberg Announces Sale of Russia Assets, Ending Legal Spat
- Danish brewer will sell Baltika Breweries for $320.9 million
- Announcement comes a day after Russia ended government control
Bottles of Carlsberg beer on the production line at the Baltika Breweries plant in Saint Petersburg.
Source: Bloomberg
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Carlsberg A/S agreed to sell its Russian business unit Baltika Breweries, one day after Russian President Vladimir Putin signed a decree ending government control of the division.
The Danish brewer said in a statement Tuesday that it would receive a cash consideration for the deal and will retain Baltika’s shareholdings in Carlsberg’s Azerbaijan and Kazakhstan units.