The Danish company Carlsberg has reached an agreement to sell its shares in the Baltika brewery located in Russia. This is stated in a press release from the holding company.
The transaction is expected to be completed within the next few days. Carlsberg Group will receive a cash payment, as well as shares in the Baltika brewery in Azerbaijan and Kazakhstan. As part of the deal, the parties will resolve all outstanding legal disputes, including issues related to intellectual property rights.
The Russian plant will be acquired by the top management of Baltika. The new controlling shareholder will be a company equally owned by two long-time employees of the brewery. They will take on leadership of the brewery as the CEO and Deputy CEO. Their names are not disclosed.