Carlsberg to sell Russian business by mid-2023

MOSCOW, Feb 7 (PRIME) -- Danish beer brewing giant Carlsberg plans to sign a deal to sell its Russia’s largest brewery plant Baltika until the middle of 2023, the company said in a report on Tuesday.

“An offer process is expected to commence in January–March 2023, and we are aiming to sign a divestment agreement by mid-2023,” the report read.

Carlsberg also said that its revenue in Russia grew by 56% on the year to 10.207 billion Danish kroner, or U.S. $1.5 billion, even though the sales fell by 2.6% in the physical terms.

A spokesperson for Baltika, who has been a part of Carlsberg Group, told PRIME that the company would continue operating as usual until the deal is closed.

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