As part of the agreement, the Russian Baltika Breweries' ownership shares in Carlsberg Azerbaijan and Carlsberg Kazakhstan are being transferred to the Carlsberg Group in Denmark, according to a press release.
Carlsberg had already declared in 2022, following the start of Russia's full-scale war against Ukraine, that the brewery giant intended to leave Russia. Now, the Russian part of the group is being taken over by VG Invest, a company controlled by two high-ranking executives at Baltika Breweries.
The Russian state took over the management of Baltika Breweries following a presidential decree in July 2023, but this temporary arrangement ceased on Monday, according to Carlsberg.
Both Russian and Danish authorities must approve the deal for it to be completed.
