Denmark/Russia: New Carlsberg CEO Takes a Stand Against Russian Brew Takeover

Nearly four months after Russian President Vladimir Putin placed the Russian brewery group Baltika under forced administration (, 16.7.2023) and appointed a close associate to lead it (, 18.7.2023), Carlsberg's new CEO, Jacob Aarup-Andersen, had strong words: "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," as reported today by Reuters.

In the months since July, both sides have also failed to reach a mutually agreeable solution. "We're not going to enter into a transaction with the Russian government that somehow justifies them taking over our business illegally," he emphasized to journalists following the company's quarterly earnings statement.

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