Exclusive-Russia approves $320 million sale of Carlsberg assets to local businessmen, document shows [Yahoo! Finance]
DANONE S/ADR (DANOY)
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Source: Yahoo! Finance
local firm with links to brewery holdings, for 34 billion roubles ($320.75 million), a government document seen by Reuters showed. Moscow seized control of Carlsberg's stake in Russia's Baltika Breweries in July 2023 and placed it under "temporary management," prompting Carlsberg Group CEO Jacob Aarup-Andersen to say that its business had been stolen. Carlsberg's assets were removed from temporary management on Monday. As part of the deal, Baltika's stakes in Carlsberg Azerbaijan, Carlsberg Kazakhstan and another Azerbaijan subsidiary will be transferred to Carlsberg, in exchange for a brewery asset in Russia, Hoppy Union. Carlsberg did not immediately comment. Baltika declined to comment and Russia's finance ministry, which heads the government commission on foreign asset sales, did not immediately respond. The proposed sale price implies Carlsberg selling at a significant discount. In a February 2023 report, Carlsberg said its net assets in Russia as of December 2022 were wo
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