the president of Baltika proposed to nationalize the company – Kommersant

Baltika President Taimuraz Bolloev approached the head of the Federal Property Management Agency, Vadim Yakovenko, with a proposal to nationalize the brewing company. This was reported “Vedomosti” with reference to a letter from Mr. Bolloev and a source close to the Ministry of Finance.

In the letter, the president of Baltika called the nationalization of the company “the only way out of the current situation.” The Danish Carlsberg Group did not accept the Russian side’s proposal on the terms of a possible transaction after Baltika’s transfer to the temporary management of the Federal Property Management Agency, the letter notes.

When assessing Baltika, Taimuraz Bolloev believes, it is necessary to take into account the book value of the company’s fixed assets. Now it amounts to 17 billion rubles. The company needs to update technological equipment and software, since the foreign holding did not invest in the modernization of the company’s fixed assets and the opening of new production sites in Russia, Mr. Bolloev believes.

In addition, the letter states that Carlsberg adhered to a “policy of systematic reduction in product output” of the Baltika brand. Given the unilateral termination of Carlsberg’s licensing agreement, the company may face a decline in volume and revenue figures of up to 50%.

Carlsberg Group intended to leave the Russian market and sell its Baltika Breweries. At the end of June, Carlsberg Group announced that it had completed its search for an investor for Baltika. July 16 Vladimir Putin signed a decree according to which the shares of foreign companies in Baltika are transferred to the temporary possession of the Federal Property Management Agency.

At that time, 98.56% belonged to Carlsberg Sverige Aktiebolag (Swedish subsidiary of Carlsberg), 1.35% to Hoppy Union and 0.09% to Carlsberg Deurschland GmbH (German subsidiary of Carlsberg). In response to this Carlsberg reported, which terminated licensing agreements with Baltika. Carlsberg CEO Jakob Aarup-Andersen statedthat Russian authorities stole the company’s business.

Details are in the Kommersant FM publication. “Carlsberg does not rent out Baltika”.

Lusine Balasyan