Carlsberg Denies Report It Sold Russian Breweries To Turkey’s Anadolu

Danish brewer Carlsberg has denied a media report that said the company had agreed to sell its Russian business to Turkish rival Anadolu Efes.

Russian daily Vedomosti, citing two sources close to the talks, reported on Wednesday that a deal had been reached between the two companies.

A Carlsberg spokesperson said the report was not correct.

Business Writedown

Carlsberg, the Western brewer most exposed to Russia, said last year it planned to sell its Russian beer business and book a writedown of about DKK 9.9 billion (€1.33 billion) following Moscow’s invasion of Ukraine.

Carlsberg’s board chair Henrik Poulsen on Monday told shareholders that the company had narrowed the group of potential buyers to just under 10, and that it still expected to have a deal in place before the end of the second quarter.

Chief Executive To Retire

Earlier this month, Carlsberg announced that its chief executive Cees ‘t Hart is set to retire later this year after an eight-year tenure, and the search for his replacement is underway. ‘t Hart was hired in 2015 to boost sluggish sales in Carlsberg’s Eastern Europe division, and he successfully oversaw the implementation of the SAIL’22 strategy, which aimed to cut costs and increase sales of premium beer brands.

“Staying on board for another half a year will allow me and the team to continue delivering on our challenging plans for 2023 and accomplishing the sale of the Russian business before the summer,” ‘t Hart said.

Henrik Poulsen, the supervisory board chair, praised ‘t Hart’s performance, stating that he had delivered remarkable results during his tenure.

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