Baltika Breweries

Carlsberg Group in Russia

On 28 March 2022, the Carlsberg Group announced its decision to seek a full disposal of its business in Russia. Following an extensive process of separating the business from the rest of the Carlsberg Group, an agreement to sell the Russian business had already been signed on 23 June 2023, subject to regulatory approvals and fulfillment of certain conditions in a number of jurisdictions.

On 16 July, the Russian government issued a presidential decree, temporarily transferring the management of our Russian business – Baltika Breweries – to the Russian Federal Agency for State Property Management. With the signing of the presidential decree, Carlsberg Group no longer retains control of the management or operations of Baltika Breweries. The change to the management of Baltika Breweries has consequently been made without the knowledge or approval by Carlsberg Group.

It is unclear to Carlsberg Group what implications this development will have on the ongoing operations of Baltika Breweries in Russia as well as the current sales process.

Carlsberg Group will continue to provide information on material developments related to the temporary management of Baltika Breweries following the presidential decree.