BRUSSELS: Dutch brewer Heineken said on Friday it had completed its exit from Russia by selling its operations there to Russia’s Arnest Group for a symbolic one euro.
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 .Heineken announced its intention to exit Russia in March 2022, after Russia’s invasion of Ukraine, acknowledging that the process had taken longer than expected. “Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia,” Chief Executive Dolf van den Brink said in a statement.
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