Dutch brewer Heineken said on August 25 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 euros ($324.8 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. Many multinational companies flocked to leave Russia after the West imposed unprecedented sanctions on Moscow, but the Kremlin has retaliated by seizing some assets. To read the original story by Reuters, click here.
Heineken Exits Russia With One-Euro Sale Of Operations
Cans of Heineken beer are displayed at a shop in Moscow.