Carlsberg Increases Stake In Baltika to 96.77%

Danish brewer Carlsberg said on Tuesday its ownership of Baltika Breweries in Russia has risen by about 12 percentage points to 96.77 percent, satisfying the conditions of its buyout offer that expired on August 9.

Carlsberg said in a statement. it would squeeze out remaining minority shareholders as soon as the administrative steps for the compulsory purchase are in place.

Carlsberg submitted the voluntary offer for the rest of Baltika, the leading beer brand in Russia, in May and said last month that Russia’s MICEX stock exchange approved the delisting of Baltika Breweries.