REUTERS/Alexander Demianchuk/File Photo Acquire Licensing RightsCOPENHAGEN, Oct 31 (Reuters) - Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia's government that would make its seizure of the assets look legitimate, the brewer's new CEO said on Tuesday.
The Danish group had since last year attempted to sell its Baltika subsidiary in Russia, following in the footsteps of many other Western companies exiting Russia since its invasion of Ukraine.
"There is no way around the fact that they have stolen our business in Russia, and we are not going to help them make that look legitimate," said Jacob Aarup-Andersen, who took over as CEO in September.
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.
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:
Alexander Demianchuk, Vladimir Putin, Jacob Aarup, Andersen, Aarup, We're, they're, Jacob Gronholt, Pedersen, Jan Harvey
Organizations:
REUTERS, Rights, Carlsberg, Thomson
Locations:
St . Petersburg, Rights COPENHAGEN, Danish, Russia, Ukraine, Russian