CARLSBERG GROUP
Europe's STOXX 600 falls as tech, banks drag
European shares fell on Friday, with Carlsberg Group dropping 8% after Britvic rejected its $3.9 billion takeover bid, causing a 0.3% decline in the STOXX 600.
India to impound liquor firm Som's distillery over child labour
Police launched an investigation into Som after the National Commission for Protection of Child Rights (NCPCR) last week found 39 boys and 20 girls working at the factory. The agency also released photos of children's hands it said showed burns due to contact with chemicals. "We have sent the police force to ensure there are no issues during the sealing process," Vikas Kumar Shahwal, a senior Madhya Pradesh police official, told Reuters.
Russia's Baltika sues Carlsberg arms for over $900 million in damages
Moscow took control of Carlsberg's stake in Baltika in July 2023 and placed it under "temporary management", prompting Carlsberg Group CEO Jacob Aarup-Andersen to say its business had been stolen. According to filings with a court in St Petersburg, Carlsberg Sverige, Carlsberg Deutschland, Carlsberg Breweries and Carlsberg's Russian subsidiary Hoppy Union were all named as defendants.
Pre-IPO party: Tiger Pacific Capital latest to pour into Bira 91 Keg
Tiger Pacific Capital acquires 4% of B9 Beverages for $25 million, strengthening its capital base. The acquisition includes strategic partners and blue chip financial sponsors across geographies. Ankur Jain plans to raise $50 million for pre-IPO companies and listed securities.
Japanese Co Kirin to invest $25m more in B9 beverages
The transaction, made through purchase of fresh shares, will boost Kirin's holding in B9 Beverages beyond the current nearly 20%, the executives said requesting anonymity. Another American financial investor is also close to investing $25 million for an additional stake in B9 Beverages, which is expected to be closed in the coming weeks, said one of the executives cited above.
Carlsberg India appoints Vandana Kapur as vice president-HR
Carlsberg India has appointed Vandana Kapur as vice president-human resources, focusing on organisation effectiveness, talent management, and diversity, equity, and inclusion initiatives. With over 22 years of experience in corporate, consulting, and entrepreneurial roles, Kapur is committed to becoming an employer of choice and creating inclusive opportunities.
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Bira91 parent plans a Rs 400-crore fund shot for expansion plans
The fresh fundraise comes at a time when the Indian beer market is forecast to almost double to $10 billion in a decade. This is expected to come from robust out-of-home demand at bars, restaurants, hotels, younger consumers, an evolving retail environment and new flavours and innovation in craft beers. The increase will come despite the Indian alcobev market being heavily taxed and pricing being controlled by individual state governments.
Vinod Khosla cites Tata Trust example, says nothing wrong with OpenAI's governance structure
On Wednesday, OpenAI said it is bringing back Altman as CEO, and also reconstituting its board to be led by former Salesforce co-CEO Bret Taylor.
Russia seizes shares of Danone and Carlsberg subsidiaries in the country
The decree signed by President Vladimir Putin says the Russian state would "temporarily" manage shares belonging to Danone Russia and to Baltika, which is owned by Carlsberg.
Carlsberg objects to valuation of Khetan's 33% in India-Nepal business
"The Carlsberg Group has disputed the put option valuation and the two parties have agreed to refer the issue to arbitration. We cannot comment any further on the timing of the outcome," Ulrica Fearn, chief financial officer at Carlsberg, told investors during its earnings call.
Carlsberg CEO announces surprise retirement
The 65-year-old Dutchman, who has led the Danish beermaker for the last eight years, "has decided to retire" the company said in a statement adding that he had informed the company's board his intention to leave by the end of the third quarter of 2023 at the latest.
Carlsberg's India and Nepal JV partner to sell its entire 33.3% stake for $744 million
Carlsberg said for several years, it has had serious disagreements pertaining to the Shareholders’ Agreement between Carlsberg and its partner CSAPL Holdings Pte Ltd (CSAPLH) in relation to Carlsberg South Asia Pte Ltd (CSAPL), the holding company for the businesses in India (100%) and Nepal (90%).Carlsberg owns two thirds and CSAPLH the remaining one third in the holding firm.
Carlsberg awarded liability against Indian partner CSAPLH by Singapore tribunal
CSAPLH is Carlsberg's partner for operations in India and Nepal - which is controlled by Singapore resident C P Khetan - and has a 33.3% stake in Carlsberg South Asia Pte Ltd (CSAPL) - the holding company for Carlsberg's business in India. The rest is controlled by the Dutch brewer.
Heineken, Carlsberg and Universal Music join Russia exodus
Danish brewer Carlsberg, the world's fourth biggest beer producer, said it too was halting production and sales in Russia. It said Baltika Breweries, which it majority owns, would continue to operate as a separate business to sustain its 8,400 employees in Russia "who are not responsible for the actions of the government". The Danish group said that during the humanitarian crisis in Ukraine, any profits generated by its business in Russia would be donated to relief organisations.
India inspects Carlsberg accounts for alleged impropriety, board could be summoned
PricewaterhouseCoopers LLP -- which quit as auditor of Carlsberg India in November after a boardroom dispute at the brewery spilled into its bookkeeping -- had subsequently complained to the Ministry of Corporate Affairs.
Carlsberg’s probes reveal details of ‘potential’ unethical practices at India arm
The maker of Tuborg also clarified it had also identified a case involving underage labourers and non-compliant working conditions in a warehouse operated by a third party and terminated their contract in 2018.
Carlsberg India probes find ‘potential improper payments’, child labour: Documents
The findings cast a fresh shadow on operations and compliance practices at the Indian joint venture of Danish brewer Carlsberg A/S, which according to IWSR Drinks Market Analysis has a 17% share of India’s $7 billion beer market.
'Avoid getting caught': Report details how Carlsberg, SABMiller and UB fixed beer prices in India
The brewers coordinated to "manipulate the government machinery" and "were well aware that their collective approach through the association (AIBA) was violating" competition law, the 248-page CCI report said. The report concluded the cartel existed between 2007 and October 2018.
Indian environment, highly uncertain and volatile: Carlsberg CEO Cees't Hart
The world's third-biggest brewer said its Indian business at off-trade or retail channel fell 40% in the quarter ended September. Also, many restaurants, bars and pubs that account for nearly a third of beer sales, have either shut or opened last month.
India is a difficult market to be in at this moment of time, says Carlsberg Global CEO
The world's third biggest brewer said its Indian business declined 75% in the quarter ended June after beer manufacturing, distribution and retailing came to a complete standstill during the nationwide lockdown for nearly 40 days. Dining at restaurants, bars and pubs that accounts for nearly a third of beer sales, still remains restricted.
Brewers seek nod for home delivery
Aiba, which represents 83 manufacturing breweries including United Breweries, Carlsberg, Bira, and Molson & Coors, has proposed creating special licenses for private ecommerce and food delivery companies.
Carlsberg probing India operations for 'fraud'
Carlsberg has launched an internal audit of all processes, and has reopened previously closed investigations.
Sales at microbreweries face a dry run for the first time
About 170 microbreweries mushroomed in the past decade as the country’s high population of millennials showed keen interest in craft beer, a niche segment that still accounts for just 2-3% of the beverage consumption. Packaged craft beer brands such as White Owl and Geist are feeling the impact of the economic slowdown as well.
Bira wobbles a bit, losses rise in FY19
The maker of Bira craft beer, saw the slowest growth ever due to production delays while losses doubled after an expensive nationwide marketing deal, in a crowded market dominated by mainstream brands.
Two steps forward, one step back: Cees’t Hart, Carlsberg's CEO
“It’s a volatile environment. We used to say, two steps forward and one step back. The third quarter indeed was one of these quarters that is one step back for Carlsberg when it posted flat volume growth. It was impacted by price and excise tax increase in a couple of states," Hart said at an investor call last week.
Beer wars: The empire strikes back
UB and AB InBev are launching India-made wheat beers to take on startups like Bira, Simba.
Polls take a toll on Carlsberg’s volume growth in January-June
“We continue to see very appealing long term opportunities in India but at the same time, we need to manage the short term volatility and general risk of doing business in India.”
Anheuser-Busch InBev sets aside $55 million for tax liabilities in India
The brewer has challenged the capital gains tax demand over acquisition of SAB Miller.
Microbreweries honing art of bottling craft
Several microbreweries plan to launch bottled units of craft beer, but large-scale production remains a challenge.
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