Baltic Beverage Holdings plans to begin consolidating its Russian assets with the brewer Pikra, a press report said today.

Reuters cited a company spokesman who said the consolidation of BBH's 70.32% stake in Pikra, worth US$67.5m, was on the agenda of a 7 July shareholders meeting.

The joint venture between Carlsberg and Scottish & Newcastle is looking to consolidate its Russian business through its major brewer there, Baltika.

This move would give Baltika 86.7% of Pikra, up from 16.38% now.