MOSCOW, May 4 - RAPSI. The Moscow Commercial Court has approved a settlement between the Baltika Brewery and the Federal Antimonopoly Service on Friday. It has terminated the proceedings in the brewery's claim to cancel the watchdog's resolution that it violated advertising law.

Meanwhile, the major aluminum cans producer Rexam Beverage Can Naro-Fominsk and the watchdog have failed to settle the dispute on the service's decision to fine the company.

However, the parties have signed a fact-finding agreement.

Rexam admitted in the agreement that it breached antitrust law, while the watchdog agreed that all of the violations have been resolved.

The parties also agreed that Rexam's fine might be lowered significantly.

On the basis of the agreement, the Moscow Commercial Court dismissed Rexam's petition to invalidate the watchdog's decision and decreased the fine from 84 million rubles ($2.8 million) to 11.73 million rubles ($398,000).

Baltika has been the leading brewery in Russia since 1996. It produces a wide range of consumer goods. Baltika operates 11 breweries in Russia and one brewery in Azerbaijan. It owns over 40 brands. Baltika is owned by the Carlsberg Group.

Rexam Beverage Can Holdings B.V. is a major global aluminum can manufacturer.