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> Copenhagen — Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia’s government that would make Moscow’s seizure of the assets look legitimate, the brewer’s new CEO said Tuesday.
>
> The Danish group had been trying since last year to sell its Baltika subsidiary in Russia, following in the footsteps of many other Western companies exiting the country since its invasion of Ukraine.
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> However, after Carlsberg announced in June that it had found a buyer for the business, Russian President Vladimir Putin ordered the temporary seizure of Carlsberg’s stake in the local brewer the following month.
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> “There is no way around the fact that they have stolen our business in Russia, and we are not going to help them make that look legitimate,” said Jacob Aarup-Andersen, who took over as CEO in September.
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> Carlsberg had eight breweries and about 8,400 employees in Russia, and took a 9.9 billion Danish crown ($1.41 billion) write-down on Baltika last year.
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> Aarup-Andersen said that from the limited interactions with Baltika’s management and Russian authorities since July, Carlsberg had not been able to find any acceptable solution to the situation.
> FILE – Bottles of Heineken beer are photographed in Washington, USA, March 30, 2018. Dutch brewer Heineken has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine, selling its business in Russia for just 1 euro, the company announced Friday, Aug. 25, 2023.
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> “We’re not going to enter into a transaction with the Russian government that somehow justifies them taking over our business illegally,” he said on a call with journalists following the company’s quarterly earnings statement.
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> Earlier this month, Carlsberg retaliated by ending license agreements for its brands in Russia that have enabled Baltika to produce, market and sell all Carlsberg products in the country.
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> “When these licenses run out with the grace period, they’re not allowed to produce any of our products any more. Of course, I cannot guarantee that happens, but that is our expectation,” said Aarup-Andersen.
>
*taps Carlsberg on the shoulder* AHA-HA! Comrade, how can we steal something that was ‘ours’ right from the start? As the old bolshevik’s saying goes, can’t say ‘yours’ without ‘ours’! AHA-HA!
Well I guess it was fun making business in a dictatorship as long as everyone was making profits… once the best of the drum stops…
Sucks to suck Carlsberg
Carlsberg deserves it because they continued to do business with the Russian terrorist regime. This fills me with joy.
When I decided to run a business in cage full of of face eating leopards, I couldn’t even imagine they would eat MY face
This is what happens when you invest in authoritarian countries with no rule of law
Companies trusting Russia are fooling themselves
Øh nø! Ånywåy…
You mean Russia can seize assets too?????
*surprise pikachu face*
“The west” has been seizing russian assets for years. What did you expect?
Cry me a fucking river.
Play stupid games.
That kind of things is the stupidest ever what could be done by a state.
Wars, invasions, genocides, destructions forgetting honestly very fast (history scale) but Big Business doesn’t forget that kind of things. They are now just really fucked up hard their future in economy and international business stuff.
That kind of reputation would take really A Lot time to change its appearance for foreign Big Business.
That’s literally the risk of doing business in countries like Russia.
Written on the wall since 2014.
CEO should be sacked
I just assumed this is what happened with all western businesses that pulled out of Russia
Serves them right?
Carlsberg says Taliban stole its Afghani business
Get fucked, Carlsberg.
Tough shit. Hope they do it to Bacardi too
Maybe the Russians can make Carlsberg taste better. At least it’ll be stronger.
Good.
Is this the find out stage?
They waited enough to get it done by Russians.
Ruzzia does not steal, it liberates.
Comrades, long live Ruzberg, probablly the best beer in ruzia!
Typical behaviour for ruzzia. What did they expect of them?
They ones that didn’t leave are doing just fine. Next time – don’t be a bitch and don’t leave.
I laugh every time businessmen burn their fingers by dealing with Russia or China.
You’re basically asking to get fucked, so no sympathy from me.
I hear Baltika sucks anyways, their loss of owning it in the first place
What I hate about these business takeover news is how just uncaring the regime is about the future. They’re wrecking all the good work and trust built by people over the last 30 years. And after they’re gone, it’s going to be very tough to be getting any foreign investors back on board. How does one even rebuild an economy when *nobody* trusts you? Even the Chinese are apprehensive behind the scenes
26 comments
>
>
> Copenhagen — Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia’s government that would make Moscow’s seizure of the assets look legitimate, the brewer’s new CEO said Tuesday.
>
> The Danish group had been trying since last year to sell its Baltika subsidiary in Russia, following in the footsteps of many other Western companies exiting the country since its invasion of Ukraine.
>
> However, after Carlsberg announced in June that it had found a buyer for the business, Russian President Vladimir Putin ordered the temporary seizure of Carlsberg’s stake in the local brewer the following month.
>
> “There is no way around the fact that they have stolen our business in Russia, and we are not going to help them make that look legitimate,” said Jacob Aarup-Andersen, who took over as CEO in September.
>
> Carlsberg had eight breweries and about 8,400 employees in Russia, and took a 9.9 billion Danish crown ($1.41 billion) write-down on Baltika last year.
>
> Aarup-Andersen said that from the limited interactions with Baltika’s management and Russian authorities since July, Carlsberg had not been able to find any acceptable solution to the situation.
> FILE – Bottles of Heineken beer are photographed in Washington, USA, March 30, 2018. Dutch brewer Heineken has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine, selling its business in Russia for just 1 euro, the company announced Friday, Aug. 25, 2023.
>
> “We’re not going to enter into a transaction with the Russian government that somehow justifies them taking over our business illegally,” he said on a call with journalists following the company’s quarterly earnings statement.
>
> Earlier this month, Carlsberg retaliated by ending license agreements for its brands in Russia that have enabled Baltika to produce, market and sell all Carlsberg products in the country.
>
> “When these licenses run out with the grace period, they’re not allowed to produce any of our products any more. Of course, I cannot guarantee that happens, but that is our expectation,” said Aarup-Andersen.
>
*taps Carlsberg on the shoulder* AHA-HA! Comrade, how can we steal something that was ‘ours’ right from the start? As the old bolshevik’s saying goes, can’t say ‘yours’ without ‘ours’! AHA-HA!
Well I guess it was fun making business in a dictatorship as long as everyone was making profits… once the best of the drum stops…
Sucks to suck Carlsberg
Carlsberg deserves it because they continued to do business with the Russian terrorist regime. This fills me with joy.
When I decided to run a business in cage full of of face eating leopards, I couldn’t even imagine they would eat MY face
This is what happens when you invest in authoritarian countries with no rule of law
Companies trusting Russia are fooling themselves
Øh nø! Ånywåy…
You mean Russia can seize assets too?????
*surprise pikachu face*
“The west” has been seizing russian assets for years. What did you expect?
Cry me a fucking river.
Play stupid games.
That kind of things is the stupidest ever what could be done by a state.
Wars, invasions, genocides, destructions forgetting honestly very fast (history scale) but Big Business doesn’t forget that kind of things. They are now just really fucked up hard their future in economy and international business stuff.
That kind of reputation would take really A Lot time to change its appearance for foreign Big Business.
That’s literally the risk of doing business in countries like Russia.
Written on the wall since 2014.
CEO should be sacked
I just assumed this is what happened with all western businesses that pulled out of Russia
Serves them right?
Carlsberg says Taliban stole its Afghani business
Get fucked, Carlsberg.
Tough shit. Hope they do it to Bacardi too
Maybe the Russians can make Carlsberg taste better. At least it’ll be stronger.
Good.
Is this the find out stage?
They waited enough to get it done by Russians.
Ruzzia does not steal, it liberates.
Comrades, long live Ruzberg, probablly the best beer in ruzia!
Typical behaviour for ruzzia. What did they expect of them?
They ones that didn’t leave are doing just fine. Next time – don’t be a bitch and don’t leave.
I laugh every time businessmen burn their fingers by dealing with Russia or China.
You’re basically asking to get fucked, so no sympathy from me.
I hear Baltika sucks anyways, their loss of owning it in the first place
What I hate about these business takeover news is how just uncaring the regime is about the future. They’re wrecking all the good work and trust built by people over the last 30 years. And after they’re gone, it’s going to be very tough to be getting any foreign investors back on board. How does one even rebuild an economy when *nobody* trusts you? Even the Chinese are apprehensive behind the scenes