Denmark & Russia: Carlsberg beginning compulsory purchase of remaining shares in Baltika Breweries

Carlsberg is set to take full ownership of Baltika Breweries after the group announced on September, 17 it will begin a compulsory purchase of the remaining shares it does not already own in the Russian firm.

The Danish brewer said the purchase will be done through its subsidiary, Baltic Beverages Holding Aktiebolag, at RUB1,550.00 (US$50.50) per share. Baltika Breweries has been notified of the compulsory purchase, Carlsberg said.

The group first announced in February it wanted to buy the 15% of Baltika, Russia' largest brewer, it did not already own. Last month it raised its stake in the brewery to 96.77% and today Carlsberg said the "necessary administrative steps" have been completed for this transaction.

Baltika Breweries owns and runs factories in 10 Russian cities.

19 September, 2012