The deal, with no option to buy the business back, would carry exceptional losses of €300 million.
Heineken acknowledged that the process took longer than expected after announcing its intention to exit Russia in March 2022.
The world’s second largest brewer said the deal had received all the required approvals and was likely to leave it with exceptional losses of €300 million . “Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia,” Chief Executive Dolf van den Brink said in a statement.
Russian President Vladimir Putin signed a decree in July to take control of French yoghurt maker Danone’s Russian subsidiary along with beer company Carlsberg’s stake in a local brewer.Heineken had seven breweries in Russia and 1,800 employees, who will receive employment guarantees for the next three years.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Look Like A Tall Drink Of Beer With The Heineken® 150 X Motherchuckers Collection!Heineken® celebrates its 150th anniversary by embracing the diverse ways people enjoy good times with the brand. Whether it's with a twist of lime or
Read more »
Ukraine says Russia lost two bombers in attacks on airfields(Reuters) - Ukraine's intelligence chief Kyrylo Budanov said recent attacks on Russian airfields had destroyed two TU-22 bombers and damaged two more bombers.
Read more »
Wagner’s Yevgeny Prigozhin, Russia’s most powerful mercenary, believed killed in plane crashMOSCOW, Aug 24 — Russia’s most powerful mercenary Yevgeny Prigozhin was on board a plane which crashed on Wednesday evening north of Moscow with no survivors, the Russian...
Read more »
Ketua tentera Wagner dalam pesawat terhempas di RussiaKetua tentera Wagner dalam pesawat terhempas di Russia
Read more »
France has ‘reasonable doubts’ over Prigozhin plane crashThe head of Russia’s Wagner paramilitary group has presumably been killed.
Read more »
Russia extends US reporter Gershkovich’s detention by 3 monthsThe Wall Street Journal staffer was arrested on March 29 on spying charges.
Read more »