Carlsberg Group has completed a strategic review of its operations in Russia and made the decision to offload its entire presence in the country. The Copenhagen-headquartered group made the announcement on Monday (28 March) following weeks of uncertainty around the future of its Russian business. The company had previously said its Baltic Beverages Holding division, which owns the Baltika brand, would continue to be run as a separate business, with the purpose of sustaining its 8,400 employees in the country. “On 9 March, we announced a strategic review of the Carlsberg Group’s presence in Russia,” the company said. “Based on this review, we have taken the difficult and immediate decision to seek a full disposal of our business in Russia, which we believe is the right thing to do in the current environment. "Upon completion, we will have no presence in Russia.” Until a buyer has been found and a transaction completed, Carlsberg will continue with the previously-announced reduced level of operations and will exclude the country from its results reporting. The company enters its 'quiet period on 14 April ahead of first-quarter results on 28 April. “The business will be treated as an asset held for sale until completion of the disposal,” the group added. “Any profits generated during the humanitarian crisis will be donated to relief organisations.” Carlsberg is one of the most prominent multinational brewers in the Russian market. Around one in five of the group’s total employees work in the country, while in 2021 its Russian business reported sales and operating profits of DKK6.5bn (US$960m) and DKK682m (US$101m) respectively. The move comes on the same day that Heineken also announced its intention to exit Russia, at an estimated cost of EUR400m (US$440m). Carlsberg exits COVID frying pan, enters Russia, Ukraine fire – Click here for a Just Drinks comment