The Russian government published a presidential decree on July 16,23, transferring Baltika Breweries to the temporary management of the Russian Federal Agency for State Property Management.
Carlsberg Group initially said it had not received any official information from Russia. The Group has been operating in accordance with local rules and regulations in Russia and finds this development unexpected.
The fact is, with the signing of the presidential decree on July 16, 2023, the Carlsberg Group lost control the Baltika breweries. Consequently, the change in management was made without the knowledge or consent of the Carlsberg Group.
On 28 March 2022, the Carlsberg Group announced its decision to seek a full disposal of its business in Russia. Following an extensive process of separating the business from the rest of the Carlsberg Group, an agreement to sell the Russian business had already been signed on 23 June 2023, subject to regulatory approvals and fulfillment of certain conditions in a number of jurisdictions. Following the presidential decree, the prospects for this sales process are now highly uncertain.
Source and photo: Carlberg Group
