Advertisement
Singapore markets open in 6 hours 41 minutes
  • Straits Times Index

    3,437.26
    -10.30 (-0.30%)
     
  • S&P 500

    5,565.35
    +60.35 (+1.10%)
     
  • Dow

    40,366.71
    +79.18 (+0.20%)
     
  • Nasdaq

    18,028.55
    +301.61 (+1.70%)
     
  • Bitcoin USD

    67,496.32
    +1,017.24 (+1.53%)
     
  • CMC Crypto 200

    1,387.76
    -17.57 (-1.25%)
     
  • FTSE 100

    8,198.78
    +43.06 (+0.53%)
     
  • Gold

    2,395.00
    -4.10 (-0.17%)
     
  • Crude Oil

    79.79
    -0.34 (-0.42%)
     
  • 10-Yr Bond

    4.2600
    +0.0210 (+0.50%)
     
  • Nikkei

    39,599.00
    -464.79 (-1.16%)
     
  • Hang Seng

    17,635.88
    +218.20 (+1.25%)
     
  • FTSE Bursa Malaysia

    1,622.07
    -14.48 (-0.88%)
     
  • Jakarta Composite Index

    7,321.98
    +27.48 (+0.38%)
     
  • PSE Index

    6,712.05
    -79.64 (-1.17%)
     

UPDATE 1-Carlsberg's Kazakh unit appeals Russian court ban on Baltika sales

(Adds comment from Carlsberg in paragraphs 7-8)

MOSCOW, March 4 (Reuters) - Carlsberg's unit in Kazakhstan has filed an appeal with a Russian court after the Danish brewer was banned from selling the Baltika beer brand of its former Russian partner in some international markets, court documents showed.

Moscow took control of Carlsberg's stake in Baltika, Russia's largest brewer, in July 2023 and placed it under "temporary management", prompting Carlsberg Group CEO Jacob Aarup-Andersen to say its business had been stolen.

At the time, Baltika signed agreements transferring trademark rights to Carlsberg entities abroad, without the involvement of the newly-appointed company president Taimuraz Bolloev, the Vedomosti newspaper reported.

ADVERTISEMENT

On Jan. 24, a court in St Petersburg revoked intellectual property rights for Carlsberg to use Baltika brands in Kazakhstan, Uzbekistan, Kyrgyzstan, Ukraine, Tajikistan, Mongolia and Turkmenistan.

That decision came soon after Baltika's first vice president, Alexander Dedegkaev, had appealed to the Kremlin for help.

Carlsberg Kazakhstan appealed against the court's ruling on March 1, court documents showed.

Carlsberg declined to comment on the court filings.

"We are continuing to take all possible actions, including legal, to protect our employees, assets and operations in response to the presidential decree from 2023," a spokesperson for the company said on Monday.

Carlsberg's unit in Kazakhstan did not immediately respond to requests for comment.

Details from the dispute have been scant as the court has observed closed sessions due to the presence of documents containing trade secrets. (Reporting by Alexander Marrow; additional reporting by Mariya Gordeyeva, Louise Rasmussen and Olga Popova; editing by Jason Neely and Tomasz Janowski)