Vladimir Putin signed a decree removing the Baltika brewing company, formerly owned by the Danish Carlsberg group, from the temporary management of the Federal Property Management Agency. The document was published on the official legal information portal.
Author:
https://rb.ru/author/bmuzichenko/
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The presidential decree annulled the provisions of the decree, according to which, in July 2023, the Federal Property Management Agency was granted temporary 100% management of Baltika Brewing Company LLC, owned by Carlsberg Sverige Aktiebolag, Hoppy Union LLC and Carlsberg Deutschland GmbH.
In March 2022, Carlsberg announced plans to exit the Russian market; In June 2023, the company announced that it had found a buyer for the Russian assets. However, a month later, Putin transferred the foreigners’ shares in Baltika to the temporary management of the Federal Property Management Agency. Carlsberg called the presidential decree “unexpected” and estimated losses from Russia’s departure at 624 billion rubles.
In October 2023, the Danish company terminated licensing agreements with Baltika for the production and sale of beer under its own brands, but the court declared Carlsberg’s demands illegal. Furthermore, in March 2024, Baltika filed a lawsuit against the Danish company for 4.4 billion rubles.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
