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AB InBev to Take $1.1 Billion Hit From Russia Venture Exit

  • Brewer in talks to sell stake to joint venture partner
  • Many Western companies are leaving Russia amid war in Ukraine
Updated on

Anheuser-Busch InBev will sell its stake in a Russian joint venture, taking a $1.1 billion hit as the world’s largest brewer joins the global move to exit operations following the country’s invasion of neighboring Ukraine.

Leuven, Belgium-based AB InBev said it will dispose of its holding in the AB InBev Efes venture, adding that it’s already in “active discussions” with partner Turkish brewer Anadolu Efes about buying the stake, in a statement Friday. Shares in AB InBev dropped 1.4% in early trading. Anadolu Efes gained as much as 5.1% in Istanbul, the highest since December.