Voluntary offer to minority shareholders of Baltika Breweries

Carlsberg A/S 

31.05.2012 08:19

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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On 15 May 2012, the Carlsberg Group announced through its fully-owned
subsidiary Baltic Beverages Holding Aktiebolag that it had filed the voluntary
offer to minority shareholders in Baltika Breweries with the Russian Federal
Financial Markets Service. Today, this voluntary offer has been submitted to
Baltika Breweries. 



The Carlsberg Group has been involved in and committed to the Russian beer
market for many years through its shareholding in Baltika Breweries - a company
well known for its high-quality brands, products and people. By achieving 100%
ownership of Baltika Breweries, the Carlsberg Group can fully integrate Baltika
Breweries into the Carlsberg Group and 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. This will benefit Baltika Breweries as a company, its brands, its
employees and the society in which Baltika Breweries operates. Those benefits
can only be achieved if the Carlsberg Group has full ownership. 



The acquisition price set in the voluntary offer is RUB 1,550 per share. This
offer corresponds to: 



  -- A premium of 26% to the share price at the MICEX Stock Exchange 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 at the MICEX Stock
     Exchange 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.



The voluntary offer is open for acceptance from 1 June until 9 August 2012
(both days inclusive). The voluntary offer is conditional upon the Carlsberg
Group increasing its ownership to more than 95%. 



Further details of the voluntary offer will be available on
www.carlsberggroup.com. 



This announcement is for informational purposes only and does not constitute an
offer to purchase or a solicitation of an offer to sell Baltika Breweries'
securities. 







Contacts:                                                                       
Investor Relations:  Peter Kondrup   +45 3327 1221                              
Media Relations:     Jens Bekke        +45 3327 1412    Ben Morton       +45    
 3327 1417
News Source: NASDAQ OMX



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Language:     English
Company:      Carlsberg A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010181759
WKN:          
 
End of Announcement                             DGAP News-Service
 
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