BBH, the joint venture of Carlsberg and Scottish & Newcastle, has today published the attached open letter to the minority shareholders in its subsidiary companies in Russia, the letter relates to the integration of the businesses and the purchase of shares from Hartwall Capital.
The letter confirms that one shareholder in the Baltika business - Hartwall Capital - has decided to sell its stake of just over 4%. Hartwall Capital has offered these shares to BBH, which has acquired them.
BBH understands that whilst Hartwall Capital is entirely confident of its legal position, it believes that it may be drawn into protracted, spurious and unproductive legal Russian proceedings and on this basis has decided to sell its stake in Baltika.
For further information contact:
Carlsberg:
Anne-Marie Skov, Vice President, Communications
+45 33 27 14 10
Scottish & Newcastle:
Linda Bain, Head of Corporate Communications
+44 131 528 2000