(News Bulletin 247) – Carlsberg announced on Monday that a presidential decree would temporarily place its Baltika beer brand under administration by the Russian authorities, an unforeseen event the implications of which it is currently trying to assess.

The Danish brewer points out that it has not received any official notification from Moscow concerning the placement of its subsidiary under the administration of the Federal Agency for the Management of State Assets.

The group adds that it plans to assess the legal and operational implications of the decree and to possibly take, in response, all the necessary measures to assert its rights.

Last month, Carlsberg managed to finalize an agreement to sell its Russian operations, a transaction whose prospects are now considered “highly uncertain” by the company.

The company says it intends to inform the market about the financial consequences of the case ‘as soon as possible’.

Listed on the Copenhagen Stock Exchange, its action fell by 0.6% Thursday morning following these announcements.

The French food group Danone also said this morning that its subsidiary in Russia had been placed under Russian administration, while the process of transferring control of the entity was progressing according to schedule.

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