02 December, 2024

Russia: Carlsberg’s Russian assets removed from state management

Danish brewer Carlsberg's Russian assets have been removed from a list of Western assets under the management of the Russian state, a presidential decree showed on December 2, Reuters reported.

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 its business had been stolen.

The decree, signed by President Vladimir Putin on December 2, voided the previous move to put Carlsberg's Russian assets under the temporary control of the country's federal property management agency, Rosimushchestvo.

It did not say who would assume control of the assets.

Carlsberg said it was aware of the announcement from the Russian authorities, but had no immediate comment. Baltika, Russia's largest brewery, did not immediately respond to a request for comment.

Carlsberg's assets were seized at the same time as those of Danone. Moscow forced through a sale of the French yoghurt maker's assets to a pro-war businessman earlier this year.

Taimuraz Bolloev, who ran Baltika from 1991 to 2004, was appointed its president without Carlsberg's approval after the state took control.

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