Carlsberg targets new markets after divesting its business in Russia

The Carlsberg Group made the decision last year to separate the Russian business from the rest of the group, now an agreement has been announced to finally sell it. After a long negotiation process, the multinational Carlsberg is now ready to sell its Russian business.

The task of separating the Russian business from the Carlsberg Group was difficult, involving some 150 operating procedures to address each business area as well as DKK 150 million for beverage manufacturing and technology infrastructure in various countries.

Russian legislation imposes the need to submit this transaction to a regulatory assessment. This will involve both parties submitting their applications to the relevant government agency for approval.

In order for the sale and purchase to be legal, there are several necessary clauses that must be fulfilled. This includes endorsement by regulators and following specific requirements in various jurisdictions.

Company CEO Cees ‘t Hart said. “the signing of an agreement to sell the Russian business is a very important milestone in the complex separation and sale process. While it has been an extensive process, it has been important for us to reach the best possible solution for all stakeholders, including our more than 8,000 employees in Russia. We now look forward to receiving the necessary regulatory approvals.”

Therefore, there remains uncertainty as to the definitive date on which the agreement will be finalized. The acquisition by the company will have no effect on revenue forecasts for the next fiscal year.