Russia stole business from European brewing giant: company lost billions

The Danish brewing giant Carlsberg Group, which has severed all ties with Russia, said that the Kremlin simply stole its business in that country. The company refused to make any deals with the Russian authorities, which forced them to "arrest" the group's assets in the country.

Carlsberg CEO Jacob Aarup-Andersen said that it was about eight breweries in Russia, Reuters reports. The company had to write off these assets worth about $9.1 billion.

"We are not going to agree with the Russian government that somehow justifies the illegal takeover of our business," Aarup-Andersen said after the publication of the company's quarterly profit and loss statement.

The Group CEO reminded that Carlsberg has decided to suspend all license agreements for the sale of its beer brands in Russia. This means that the Russian company Baltika is now prohibited from producing, promoting, and selling the group's products.

"When these licenses expire along with the grace period, they (Russians - Ed.) are no longer allowed to produce any of our products. Of course, I can't guarantee that this will happen, but this is our expectation," Aarup-Andersen said.

Carlsberg produces beer under the Carlsberg, Tuborg, Kronenbourg, 1664, Baltika and other brands. All these brands must now cease to exist in the Russian Federation.

As reported by OBOZ.UA, earlier, Russia took control of a subsidiary of Carlsberg and a subsidiary of the French food producer Danone. The relevant decree was personally signed by Vladimir Putin on July 16.

Only verified information is available on OBOZ.UA Telegram and Viber. Do not fall for fakes!