Danish brewer Carlsberg is selling its Russian unit, Baltika Breweries, to VG Invest for $322mn after President Putin ended state control, following a decree in July 2023. The deal, expected to close soon, involves a management buyout by Baltika employees and will settle lawsuits and IP rights issues, with Carlsberg also gaining control of assets in Azerbaijan and Kazakhstan. Analysts note that while Carlsberg avoids leaving empty-handed, companies that exited Russia at the war’s onset fared better financially.
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South Korea’s Yoon lifts martial law order
South Korean President Yoon Suk Yeol lifted his order to impose martial law after facing strong opposition from lawmakers and international allies. The national assembly unanimously rejected the martial law order, leading Yoon to announce its lifting, which sparked calls for his resignation and possible impeachment. Yoon's political future is uncertain as analysts question his ability to serve out his term amidst low public support and internal party challenges. Full Article
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