The Baltica brewing company filed a lawsuit with the Arbitration Court of St. Petersburg and the Leningrad Region to invalidate Carslberg’s decision to withdraw licenses from Baltica allowing the production and sale of the Danish company’s products.
Daily reports indicate that the preliminary hearing is scheduled for November 15. Beltika did not comment on the lawsuit, and the Danish office of the Carlsberg Group did not respond to Kommersant.
The newspaper states that Baltika is part of the Carlsberg Group, but since July of this year, by decree of Russian President Vladimir Putin, the company has been under the temporary management of the Federal Property Management Agency.
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Carlsberg did not agree with this decision and considered it an illegal seizure of assets.
Therefore, the Carlsberg Group has withdrawn Baltica’s licenses allowing the production and sale of the Danish company’s products.
The Kremlin seizes the assets of foreign companies
In 2022, Danone generated revenues of US$3 billion in the Russian market, according to the Kyiv School of Economics. Teimuraz Puliev, a long-time friend of Putin, is set to take the reins of the Russian subsidiary.
Last year, Carlsberg recorded US$1.6 billion in revenue in Russia. Revenues. According to the Kuwait Stock Exchange, his Russian company Baltika will be handed over to Yakub Zakreev, the nephew of Ramzan Kadyrov.
Since invading Ukraine, Russia has repeatedly threatened to take control of Western companies operating in the country. According to “Moscow Times” The most radical moves so far were the acquisitions of the local assets of Finland’s Fortum and Germany’s Uniper at the beginning of the year.
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