13:04•Updated 13:07
Danish brewing giant Carlsberg tells having agreed on the sale of Baltika Breweries operating in Russia to its long-term employees through a management buyout. The deal is expected to be completed in the next few days.
Reuters reported earlier on Tuesday that the Russian government had approved the sale of Carlsberg’s Russian assets to VG Invest, a local company with links to holdings in the brewing industry. The purchase price was said to be 34 billion rubles, or about 300 million euros.
Carlsberg said it will receive monetary compensation in the deal, as well as Baltika Breweries’ shareholdings in Carlsberg Azerbaijan and Carlsberg Kazakhstan.