Authorities block sale of AB InBev's Russian joint venture to Anadolu Efes

Belgian-Brazilian brewer AB InBev has failed to sell its minority stake in its Russian joint venture to Turkish partner Anadolu Efes. Russian authorities have rejected the deal, AB InBev said on Thursday.

The two brewers reached an agreement on the sale late last year but failed to obtain the necessary approvals from Russian regulators and authorities, AB InBev said.

Following Russia's invasion of Ukraine, many foreign companies announced their withdrawal from the Russian market, including AB InBev. The Leuven-based brewer announced in 2022 that it was in talks to sell its minority stake in the Russian joint venture AB InBev Efes.

Anadolu Efes agreed to buy AB InBev's stake in December last year, but the "required regulatory and governmental approvals" to complete the transaction were "not obtained", AB InBev announced on Thursday.

The two brewers are now "reviewing" the decision. "The business in Russia continues to operate under the direction of Anadolu Efes management," AB InBev said. 

^{AB InBev Efes brewery © PHOTO ANTON NOVODEREZHKIN / TASS / SIPA USA}