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RUSSIA: Carlsberg ups Baltika Breweries stake as full ownership moves closer

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Carlsberg has raised its stake in Baltika Breweries to 96.77%, bringing it closer to full ownership of the Russian company. 

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The Danish brewer said today (21 August) that its share in Baltika has increased by 12.05% after a voluntary offer to the Russian firm expired earlier this month. The offer was made through Carlsberg’s Baltic Beverages Holdings unit. 

Shareholders in Baltika, Russia's largest beer producer, were given until 9 August to accept Carlsberg's RUB1,550-per-share offer

"When the necessary administrative steps have been completed the Carlsberg Group intends to launch a compulsory purchase of the remaining outstanding shares in Baltika Breweries," the Danish brewer said in a statement. 

Carlsberg first announced in February it wanted to buy the 15% of Baltika it did not already own. 

Last week, Carlsberg reported a recovery in Russia as its market share continued to grow. 


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