Exclusive-Russia approves $320 million sale of Carlsberg assets to local businessmen, document shows By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2024
0mins
Source: Investing.com
Sale of Carlsberg's Assets: Russia has approved the sale of Carlsberg's assets in the country to local firm VG Invest for 34 billion roubles, following Moscow's seizure of Carlsberg's stake in Baltika Breweries and placing it under temporary management earlier this year.
Impact of Sanctions: The sale price reflects a significant discount compared to Carlsberg's reported net assets in Russia, highlighting the increasing challenges foreign companies face due to tightened exit requirements and sanctions imposed by Western nations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
