Baltika prepares share buyback programme

The proposed move would result in increased profitability per share and an improvement in the capital structure, Baltika said .

  The Russian brewer, which is majority controlled by Carlsberg and
Scottish & Newcastle's Baltic Beverages Holding joint venture, said that it
has called a meeting of shareholders to okay the programme, with a deadline for
votes on the move of 15 October.
Baltika's board said it plans to buy back up to 9.9m
ordinary and up to 1.2m preference shares. The price of purchase would be
US$50.55 for one ordinary share and US$30.55  for one preference share.