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Baltika Brewery Surges in MICEX Trade on Carlsberg Offer

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The shares of Russia’s largest beer producer Baltika jumped 9 percent to 1,340 rubles per share in MICEX-RTS afternoon trade on news that the company’s core shareholders Carlsberg would boost its stake in the brewery to 100 percent.

The shares of Russia’s largest beer producer Baltika jumped 9 percent to 1,340 rubles per share in MICEX-RTS afternoon trade on news that the company’s core shareholders Carlsberg would boost its stake in the brewery to 100 percent.

The Dutch firm Carlsberg, one of the world’s largest breweries, is expected to make an offer to Baltika shareholders to purchase the remaining 15 percent of Baltika’s stock. Carlsberg currently holds an 85-percent stake in Baltika and the deal is expected to cost $1.15 billion.

Baltika reported on Monday that the offer price had not yet been set but would not exceed 1,500 rubles per share. Carlsberg will set the final offer price depending on the market at the time of the offer.

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 has become the official beer supplier to the Sochi 2014 Winter Olympics.

 

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