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...News of the proposed sale comes seven months after Vladimir Putin issued a decree putting Danone’s and Danish brewer Carlsberg’s Russian businesses under “temporary external management” as Moscow began taking...
...On Tuesday the government appointed Yakub Zakriev, Chechnya’s agriculture minister, as head of the Danone business and installed Taimuraz Bolloev, a longtime friend of Putin, as director of Carlsberg’s Baltika...
...Danish brewer Carlsberg reported strong revenue growth of 9.2 per cent in a full-year trading update on Wednesday, but reported negative sales volumes on the back of dampened consumer demand....
...Sales volumes of Carlsberg drinks such as Tuborg, Kronenbourg and Somersby cider were in line with analyst expectations, falling 0.5 per cent organically....
...Carlsberg’s chief executive warned of weak consumer sentiment and denounced Moscow’s seizure of its Russian subsidiary as the Danish brewer reported lower than expected beer sales across its key markets....
...“As Carlsberg, we will of course do what we can to help the employees under these difficult circumstances,” they added....
...However, as the Russian finance ministry has been keen to clarify, the seizure of Carlsberg falls short of a full nationalisation....
...After the seizure of Baltika, a close friend of Vladimir Putin from the president’s native St Petersburg, Taimuraz Bolloev, was installed as Baltika’s director....
...Carlsberg is gearing up for a legal fight with its Russian business Baltika over the subsidiary’s right to sell its international brands as the Danish brewer enters the next phase of its tortuous exit from...
...They are particularly prevalent in Denmark — think Maersk and Carlsberg....
...Although slightly below analyst forecasts of 1.2 per cent growth, Carlsberg’s positive sales volumes contrasted with declines at competitors Heineken and AB InBev, as well as in the wider consumer goods...
...Taimuraz Bolloev, who previously ran Baltika in the 1990s and is a longtime friend of Russian president Vladimir Putin, has been installed as Baltika’s director....
...Russia has gone for that double hit by expropriating Russian businesses of France’s Danone and Carlsberg of Denmark. The beneficiaries are cronies of Vladimir Putin....
...Madeleine Speed Carlsberg wrote off the entire value of the Russian business at the same time as they terminated the license agreement, so the ability for Baltika to sell the international brands — so basically...
...The Kremlin did not provide further details on Sunday but has previously described such moves as a response to western confiscations of Russian assets....
...Besides complicity in war crimes and the looming risk of expropriation, similar to the cases of Danone and Carlsberg, remaining companies are also obliged to assist the Russian state with employee conscription...
...Voters in the Netherlands elect Geert Wilders; UK immigration numbers reach new high; Plus, senior Carlsberg executives are detained in Russia....
...Carlsberg, which owns Russia’s biggest and most popular beer brand, Baltika, earned 9 per cent of its total revenue in the country....
...cases of Carlsberg and Danone (Report, July 20); and the payment of taxes that fund Vladimir Putin’s war against Ukraine....
...The Russian business now operates as a standalone unit, Van de Put said. The company sold fewer goods in 2023, he added, but was more profitable because of lower investment....
...Carlsberg has condemned the move, alleging that the Russian government has resorted to “targeting innocent employees” as part of its broader attempt to seize the company’s business....
...AB InBev’s main competitor in Russia, Carlsberg, had its subsidiary Baltika Breweries seized and placed under “temporary management” by the state earlier this year....
...Cees ‘t Hart is to retire after eight years as chief executive of Carlsberg but will stay on several more months to oversee the Danish brewer’s exit from Russia....
...well as mythical creatures....
...I visit almost as much for the beautiful setting and the views as I do for the art exhibitions....
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