AB InBev sells stake in Russian joint venture

Belgian-Brazilian brewer Anheuser-Busch InBev is now well and truly leaving Russia, selling its stake in a Russian joint venture to its Turkish partner Anadolu Efes.

The decision to cease AB InBev's remaining activities in Russia was already announced in April 2022, but has only now been finalised. The world's biggest brewer had already written down its Russian stake to zero, saying last year that the deal would cost the company well over 1 billion euros. However, InBev added on Tuesday that any compensation it might receive later would depend on additional regulatory approvals and was expected to be "not material".

Anadolu Efes will now run the Russian subsidiary on its own. AB InBev will not receive any compensation for the transaction now, but it could be paid later depending on how the business performs, writes Bloomberg.

This is one of the last major European divestments from Russia since it invaded Ukraine almost two years ago, according to Bloomberg. Industry peers such as Heineken and Carlsberg also left Russia after the war in Ukraine. Carlsberg's Baltika was nationalised, while Heineken sold its Russian operations to a local company for the symbolic sum of 1 euro.



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AB InBev exits Russian joint venture AB InBev Efes
AB InBev will sell its stake in the Russian joint venture AB InBev Efes, a decision that will cost the company $1.1 billion. The Belgian-Brazilian brewer is in talks with Anadolu Efes, the Turkish brewer that owns the majority of AB Inbev Efes. With this departure, AB InBev is the umpteenth company to turn its back on Russia.

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