By John Meyer, consultant in financial affairs – Eurasia Business News, December 3, 2024. Article No 1321.

The Danish brewing corporation Carlsberg Group has agreed with private investors to sell its Russian assets to Baltika. According to Carlsberg’s press release, the new controlling shareholder of the Russian business will be a company owned in equal shares by Baltika’s top managers. It would be the Russian JSC VG Invest. One of the investors would be the president of Baltika since 2023, Taimuraz Bolloev.

The deal is expected to close within the next few days, but its amount has not been officially disclosed. Carlsberg Group will receive shares in Baltika Breweries in Carlsberg Azerbaijan and Carlsberg Kazakhstan. “The new controlling shareholder of Baltika will be a company owned in equal shares by two long-time employees of Baltika, who currently hold senior positions in the company. These two people will take control… as general director and deputy general director,” the company specified.

JSC VG Invest, which, according to Reuters, will receive the assets of Baltika, was registered in August this year. The post of its general director is occupied by the vice-president of Baltika Yegor Guselnikov. He also heads the Center for the Development of Brewing (CRD) together with Alexander Tolmachev. Reuters writes that the assets of Baltika will be sold for 34 billion rubles.

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The Carlsberg Group has announced plans to leave the Russian market after the outbreak of hostilities in Ukraine in February 2022. In June 2023, the group found a buyer for its Russian business. The media wrote that Alexei Sagal’s Arnest Group was interested in the business, the deal was estimated at 71 billion rubles ($ 670 million). Yesterday, on December 2, the Russian president Vladimir Putin withdrew the shares of Baltika from temporary management.

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The Danish corporation owned a stake in the brewing company “Baltika Breweries LLC” since 2000 and in 2008 Carlsberg group became the majority shareholder (and then the only one, buying shares from the stock exchange and delisting).

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© Copyright 2024 – Eurasia Business News. Article no. 1321.