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April 21, 2011
Process of integration of Carlsberg Group companies in Eastern Europe goes on

The Russian "Baltika Brewery" and the Ukrainian Public Joint-Stock Company "Slavutich Brewery" have signed an agreement under which "Slavutich" has acquired 100 % of the authorised capital of the "Baltika" affiliated company in Moldova. Henceforth, "Slavutich" exercises overall operational management of Carlsberg Group activity in Moldova.

According to the Contract of Sale of the share in authorised capital as of 14.01.2011, "Slavutich" acquired the "Baltika" affiliated company in Moldova (foreign capital entity "Baltika" LLC) and became the owner of 100 % of the authorised capital of ÎCS «Carlsberg» SRL. Now the licensed brands of the Russian "Baltika" company will be on sale in Moldova by ÎCS «Carlsberg» SRL.

This decision is a logical continuation of the strategy to improve business efficiency of Carlsberg Group in Eastern Europe. In October 2010, OJSC "Baltika Brewery" and PJSC "Slavutich Brewery", following this strategy, concluded cross-licensing agreements for 20 years, which stipulated the acquisition of 100% authorised capital of the "Baltika" affiliated company in Moldova.

For today, Carlsberg Group in Moldova is represented by such brands as "Slavutich", "Baltika", "Tuborg", "Carlsberg", "Kronenbourg 1664", "Corona Extra", "Lvivske", "Zhigulevskoye", "Bolshaya Kruzhka", "Kvas Taras", and "Holsten". The total staff of the company is 116 employees. The company collaborates with 3 distributors: "Glorinal Group" SRL, "Lux Proba" SRL and "Sherif" LLC. According to the "Slavutich" analysts, the market share of Carlsberg Group in Moldova in 2010 was 11%.

Under the agreement, OJSC "Baltika Brewery" will produce, sale and promote the products of PJSC "Slavutich Brewery" in Belarus, Armenia, Azerbaijan, Georgia (including Abkhazia and South Ossetia), Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

Anton Artemiev, Senior Vice President of Carlsberg Group in Eastern Europe, President of "Baltika Brewery": "Consolidation of efforts of "Baltika" and "Slavutich" companies on the specified markets in the CIS will let achieve better results due to optimizing the cost of distribution, promotion, sale and logistics of "Baltika" and "Slavutich" brands and make them more accessible to the consumer. Integration of the business of the companies creates additional opportunities to strengthen the leading position of Carlsberg in the CIS and lets the company develop more rapidly in the region."

Peter Chernyshov, Chief Executive at PJSC "Slavutich Brewery": "Slavutich" and "Baltika" companies have already had a successful history of cooperation. Last year, we established a supply of TM "Slavutich" into Russia. And from 2006 under the license of our Russian partner the "Baltika" beer line has been produced in Ukraine. The signing of this agreement will expand our partnership. As our top priority objectives in Moldova we see the formation of a strong brand portfolio and creation of effective system of sales."

Information for editors:
• "Baltika Brewery" began supplies to Moldova in 2000.
• Moldova was in the top five largest import markets for "Baltika".
• According to the "Slavutich" analysts' estimates, the total beer market capacity in Moldova is 12.5 million dal.
• In the consolidated sales of "Slavutich" the Moldovan region share makes about 3%.

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