Danish brewer Carlsberg has made an offer to minority shareholders of Russia’s largest beer producer Baltika to purchase the remaining 15 percent of Baltika’s stock, the Russian firm said on Tuesday.
Carlsberg filed the offer, which will be sent to minority shareholders next week, with Russia's Federal Financial Markets Service, Baltika said in a statement without disclosing the terms of the offer.
Carlsberg currently holds an 85-percent stake in Baltika and the deal is expected to cost $1.15 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.
