Carlsberg says no more in control over Baltika operations

MOSCOW, Jul 19 (PRIME) -- Dutch beer brewing giant Carlsberg Group is no more in control of management and operations of Russian beer brewery Baltika, and consequences for the subsidiary’s activity from the move are unclear, Carlsberg said in a statement on Wednesday.

President Vladimir Putin previously signed an order transferring stakes in dairy product maker Danone Russia and Baltika into temporary management of the Federal State Property Management Agency from the foreign companies. On Tuesday, the agency appointed Baltika’s founder Taimuraz Bolloyev as its new CEO.

“With the signing of the presidential decree on July 16, 2023, Carlsberg Group no longer retains control of the management or operations of Baltika Breweries. The change to the management of Baltika Breweries has consequently been made without the knowledge or approval by Carlsberg Group. It is unclear to Carlsberg Group what implications this development will have on the ongoing operations of Baltika Breweries in Russia as well as the current sales process,” the statement read.

Carlsberg said it will sell its Russian assets, including Baltika in March 2022, while in February 2023 it said it planned to sign the agreement until mid-2023. In late June, the company said it had finished the search for a new investor and that the Russian subsidiary will continue operating as usual until the deal is signed.

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