Carlsberg CEO says Russia has 'stolen' their business

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COPENHAGEN - Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia's government that would make its seizure of the assets look legitimate, the brewer's new CEO said on Tuesday (Oct 31). The Danish group has since last year been trying to sell its Baltika subsidiary in Russia, following in the footsteps of...

Barrels are seen at the museum of the Baltika brewery in St Petersburg, Oct 12, 2014.COPENHAGEN - Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia's government that would make its seizure of the assets look legitimate, the brewer's new CEO said on Tuesday .

"There is no way around the fact that they have stolen our business in Russia, and we are not going to help them make that look legitimate," said Jacob Aarup-Andersen, who took over as CEO in September. "We're not going to enter into a transaction with the Russian government that somehow justifies them taking over our business illegally," he said on a call with journalists following the company's quarterly earnings statement.

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