Putin introduces state management for Danone Russia, Baltika stakes

MOSCOW, Jul 17 (PRIME) -- President Vladimir Putin signed an order on July 16 transferring stakes in dairy product maker Danone Russia and beer brewery Baltika into temporary management of the Federal State Property Management Agency from the foreign companies.

The order covers 83,292,493 common shares and 85,000 common shares of Danone Russia; a 98.56% stake in Baltika owned by Carlsberg Sverige Aktiebolag, 1.35% by Hoppy Union and 0.09% by Carlsberg Deutschland.

Carlsberg Group said in a statement that it had received no notification from the Russian authorities on introduction of temporary management of its stake in Baltika.

"The Carlsberg Group has been operating in accordance with local rules and regulations in Russia and finds this development unexpected. The Group will assess the legal and operational consequences of this development and take all necessary actions in response," the company said.

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