Heineken Secures Exit From Russia With €1 Sale to Arnest Group
- Dutch brewer will take €300 million loss on Russian asset sale
- Deal follows government seizure of Carlsberg assets this year
Cans of Heineken beer at a supermarket in Moscow, Russia.
Bloomberg: Andrey Rudakov/Bloomberg
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Heineken NV said it completed a deal to sell its assets and leave Russia, becoming one of the few consumer companies to successfully withdraw since Vladimir Putin’s government shifted rules to make exiting the country more difficult.
The Dutch firm sold its operations, including seven breweries, to Russia-based packaging and consumer goods business Arnest Group for €1 ($1.08) in a deal that will result in a €300 million loss. The transaction has received all required approvals, Heineken said in a statement, and concludes a process started in March 2022.