OREANDA-NEWS. July 12, 2012. Baltika Breweries received an offer from Baltic Beverages Holding Aktiebolag, a subsidiary of Carlsberg Group, regarding a voluntary purchase of Baltika’s registered ordinary shares.  The proposed price equates to RUR 1550 per share.

Baltika’s Board of Directors has considered the voluntary proposal and unanimously recommends that the shareholders of Baltika Breweries accept the voluntary offer, believing that the offer price of 1550 roubles per share is fair, given that the price per share reflects:

A premium of 26% to the share price the day prior to 20 February 2012, when the Carlsberg Group made its intentions public;

A premium of 31% to the weighted average share price during the 6-month period immediately preceding 20 February 2012;

A premium to the share price of the share buy-back performed in 2011 when the price was set at RUB 1,407 for ordinary shares and RUB 1,286 for preference shares.

Considering that Carlsberg has the intention not to accept decision to pay dividends in the foreseeable future, the proposal provides shareholders with a good opportunity to sell shares on favorable terms.

Currently, Carlsberg Group’s shareholding in Baltika is 84.72 percent.  100% ownership will allow Baltika to become more fully integrated into the Carlsberg Group which will allow it to benefit from a series of initiatives and opportunities. The efficiency of management will be improved, also providing Baltika with greater operational flexibility and efficiency.

If Carlsberg is successful in achieving 100% ownership of Baltika, Carlsberg confirms its intention to invest more in Russia that will positively affect the number of workplaces and economic situation in regions of Baltika presence.  Carlsberg expects that Baltika will also be the hub for some of the regional functions of the Group. In addition, Baltika will have an opportunity to distribute its brands to other companies within Carlsberg Group and to use the distribution network of Carlsberg. Baltika is one of Carlsberg's leading international brands and Carlsberg is committed to invest further in the brand.