CABGY - Brewing Tensions: Carlsberg Cuts Ties With Baltika Amid Russian Takeover | Benzinga
Carlsberg AS (OTC: CABGY) has announced the termination of its license agreements with Baltika Breweries, effectively ending Baltika's authorization to produce, market, and sell all products under the Carlsberg brand in Russia.
This decisive move comes in response to the Russian government's temporary seizure of Baltika's management, following a presidential decree issued on July 16, 2023.
The termination of the license agreements signifies Carlsberg's staunch refusal to comply with what it views as an