Carlsberg makes offer to minority shareholders of Baltika

Shareholders of Baltika Breweries, which is majority-owned by Carlsberg, have until 9 August 2012 to accept a voluntary offer for their shares. The voluntary offer is conditional upon the Carlsberg Group increasing its ownership to more than 95 percent.

The acquisition price set in the voluntary offer is RUB 1,550 per share. This offer corresponds to a premium of 26 percent to the share price at the Moscow stock exchange the day prior to 20 February 2012 when the Carlsberg Group made its intentions public.

By achieving 100 percent ownership of Baltika Breweries, the Carlsberg Group hopes to fully integrate Baltika Breweries into the Carlsberg Group. This will speed up the implementation of decisions and also allow Baltika Breweries to become fully integrated into the back-end operations of the Carlsberg Group which have been accelerated recently, it was reported.