Carlsberg sold assets in Russia at a discount, it will receive about 34 billion rubles, while it previously estimated its business in the country at $ 1.06 billion, writes Reuters. The amount was not officially named
The Danish company Carlsberg announced the sale of its assets in Russia, namely the Baltika brewing company. Under the terms of the deal, the Danes will completely exit the capital of Baltika, receiving a cash payment for this, as well as Baltika’s shares in its subsidiaries in Kazakhstan and Azerbaijan (Carlsberg Azerbaijan and Carlsberg Kazakhstan).
The amount of the deal is not named in the Carlsberg statement, they promise to disclose it in the company’s report for 2024. But according to Reuters, the deal will be carried out at a large discount – the payment will be 34 billion rubles, or $320.75 million, while Carlsberg itself previously valued its Russian assets at 7.52 billion Danish kroner, or $1.06 billion.
“Given the circumstances, we believe that this is the best achievable outcome for our employees, shareholders and the continuation of the business,” commented Carlsberg Group CEO Jacob Arup-Andersen on the deal.