Putin returns Baltika to Carlsberg, company shares rise – Bloomberg [Yahoo! Finance]
DANONE S/ADR (DANOY)
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Source: Yahoo! Finance
Source: Bloomberg Details: The Kremlin removed Baltika Breweries from the list of assets under interim administration, returning its ownership to Carlsberg. Despite this rise, Carlsberg shares are down more than 10% since the beginning of the year. The corporation acknowledged that it is aware of the Russian authorities' statement and is evaluating the situation. Background: Previously, Kremlin leader Vladimir Putin handed foreigners' shares in Baltika and a Danone subsidiary to the control of the Federal Property Control Agency; previously, the firms had announced the sale of their assets in the Russian Federation. Carlsberg, a Danish beer producer, was "shocked" by the Russian authorities' decision to withdraw its Russian assets, the Baltika plants: the business had no idea what would happen next. Carlsberg Group said that it was removing Baltika's licenses, which allowed it to produce and sell its goods. Support UP or become our patron
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