Kremlin "squeezed" part of the Carlsberg business: CEO is shocked "unprecedented"

Brewery told that they remain the owners of the Baltic Company, but they are not in fact controlled. The Carlsberg management defined the actions of the Russian Federation as nationalization and expressed the hope of achieving the sale of business. In July, the Russian Federation took control of eight breweries of the Danish group and 8400 their employees after the Carlsberg consent to sell part of the business to the unnamed buyer. The company is shocked by the Baltika capture.

This is stated in Reuters from August 16. "We knew from the very beginning, since we have announced the intention to leave Russia in March last year that there was a great interest in business from people inside Russia. But it is still an unprecedented development," said CEO of Kayes T'hart. He explained that the ownership of the "Baltic" is stored for Carlsberg, but there is no actual control or floating on brewery.

"Technically, this is not nationalization, but at this time it is unclear how it will happen. This last event will make Russia even more painful," T'hart said. He said that Carlsberg did not contact his Russian staff, but retains a limited connection with the authorities of the Russian Federation. Financial Times added that the company still hopes to sell its Baltic branch.

"We evaluate the situation and the legal consequences of this extremely unexpected step and try to protect our assets and business value," T'hart explained. Carlsberg is considered "probable" that "Baltic" will still be able to sell legally despite the uncertain conditions. At the same time, the brewery reported that the arrest of part of the business could affect other parts and structures outside the aggressor country.