News

RUSSIA: Carlsberg Baltika Breweries buy gets board approval

Most popular

The just-drinks analyst returns

Heineken must cut costs to aid recovery - analysis

How COVID has accelerated the sobriety trend

Interview - Treasury CEO Mike Clarke - Part II

The just-drinks analyst returns

MORE

The board of Baltika Breweries has recommended Carlsberg's offer to buy the outstanding shares in the Russian brewer.

//i4.progressivedigitalmedia.com/1/baltika_0.jpg

Following the announcement in February that Carlsberg wants to buy the 15% of Baltika Breweries it does not yet own, the Danish brewer has offered shareholder RUB1,550 (US$47.50) per share through its subsidiary Baltic Beverages Holding Aktiebolag.

Baltika Breweries said earlier this week that the offer, made on 31 May, has been unanimously recommended by its directors.

“Considering that Carlsberg has the intention not to accept decision to pay dividends in the foreseeable future, the proposal provides shareholders with a good opportunity to sell shares on favourable terms,” the brewer said.

Full Carlsberg ownership will “allow Baltika to become more fully integrated into the Carlsberg Group”, Baltika added. “The efficiency of management will be improved, also providing Baltika with greater operational flexibility and efficiency.”

Shareholders have until 9 August to accept the offer.

To read the shareholder documentation, click here.


Related Content

Carlsberg Performance Trends 2014-2018 - results data

Carlsberg Performance Trends 2014-2018 - results data...

Carlsberg poised to reopen China breweries next week

Carlsberg poised to reopen China breweries next week...

What can the beer industry learn from Carlsberg? - Comment

What can the beer industry learn from Carlsberg? - Comment...

Carlsberg Q1 2020 - preview

Carlsberg Q1 2020 - preview...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?