Carlsberg goes out of business in Russia day after regaining control of Baltika

Carlsberg Group, the Danish brewery holding firm, announced the sale of shares in the Russian brewing company Baltika to a structure controlled by two of its top executives.

Source: press release of the Carlsberg Group

Details: The transaction is likely to be completed within the following few days.

The Carlsberg Group will get monetary compensation in addition to shares in Baltika Breweries' Carlsberg Azerbaijan and Carlsberg Kazakhstan.

According to the arrangement, two senior Baltika executives would buy the company and take over administration, with one becoming general director and the other serving as his deputy. Their names were not revealed.

Background: Carlsberg shares gained 3.9% after Kremlin leader Vladimir Putin signed a decree removing government control over the brewing company's Russian operations.

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