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Carlsberg Ups Baltika Stake

Danish brewer Carlsberg said Tuesday that its ownership of Baltika Breweries had risen about 12 percentage points to 96.77 percent, satisfying the conditions of its buyout offer, which expired on August 9.

Carlsberg said in a statement that it would squeeze out remaining minority shareholders as soon as the administrative steps for the compulsory purchase are in place.

Carlsberg submitted the voluntary offer for the rest of Baltika in May and said last month that the MICEX stock exchange had approved the delisting of Baltika Breweries.

(Reuters)

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