Carlsberg to Sell Baltika to Russian Top Managers, Will Retain Assets in Kazakhstan

The Carlsberg Group is closing a deal to sell a controlling stake in Baltika. Two top managers will be the new owners of the brewing giant, Orda.kz reports.

As part of the deal, the Danish corporation will retain its assets in Kazakhstan and Azerbaijan and receive a payment.

The deal has been agreed upon with the Danish and Russian authorities and is expected to be completed in the coming days. Under the agreement, Baltika will transfer its shares in Carlsberg Kazakhstan and Carlsberg Azerbaijan to the Danish corporation. 

Since our announcement of our intention to leave Russia in 2022, we have explored all possible options while trying to protect our people, assets and the value of the business. With today's announcement, we will resolve numerous legal proceedings and issues related to Baltika's intellectual property. Given the circumstances, we believe this is the best possible outcome, said Jakob Aarup-Andersen, CEO of the Carlsberg Group.

The amount of the deal was not specified, but Carlsberg promised to disclose details in the company's 2024 annual report.

In March 2022, the Danish brewing giant decided to discontinue business in Russia due to the invasion of Ukraine.

Russian President Vladimir Putin later signed a decree, based on which all Carlsberg shares were transferred to the temporary management of the Russian government, i.e., the Federal Property Management Agency.

Carlsberg CEO Jacob Aarup-Andersen said that their business in Russia was stolen.

On January 24, 2024, a court in St. Petersburg stripped the company of its intellectual property rights to use the Baltika brands in Kazakhstan, Uzbekistan, Kyrgyzstan, Ukraine, Tajikistan, Mongolia, and Turkmenistan.

Original Author: Zarina Fayzulina