Copenhagen — Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia’s government that would make Moscow’s seizure of the assets look legitimate, the brewer’s new CEO said Tuesday.
However, after Carlsberg announced in June that it had found a buyer for the business, Russian President Vladimir Putin ordered the temporary seizure of Carlsberg’s stake in the local brewer the following month.
Carlsberg had eight breweries and about 8,400 employees in Russia, and took a 9.9 billion Danish crown ($1.41 billion) write-down on Baltika last year.
Aarup-Andersen said that from the limited interactions with Baltika’s management and Russian authorities since July, Carlsberg had not been able to find any acceptable solution to the situation.
Earlier this month, Carlsberg retaliated by ending license agreements for its brands in Russia that have enabled Baltika to produce, market and sell all Carlsberg products in the country.
Persons:
Vladimir Putin, ”, Jacob Aarup, Andersen, Aarup, “ We’re, they’re
Organizations:
Carlsberg
Locations:
Copenhagen, Danish, Russia, Ukraine, Russian