Baltika Stock Surges on Carlsberg Minorities Offer

Russia’s largest beer producer Baltika jumped 3.5 percent to 1,511 rubles per share in MICEX-RTS afternoon trade on news that core shareholder Carlsberg will buy back 15.45 percent of Baltika’s ordinary stock from minority shareholders at 1,550 rubles per security.

The Dutch firm Carlsberg, one of the world’s largest breweries, currently holds an 85 percent stake in Baltika and announced in mid-May its intention to repurchase the remaining stock. The price of the deal may amount to 37.38 billion rubles ($1.2 billion).

Baltika has dominated the domestic beer market since 1996, currently enjoying a reported 38 percent market share. It has 10 breweries across Russia, and has market presence in 70 countries.

Baltika is the official beer supplier to the Sochi 2014 Winter Olympics.

 

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