AB InBev sells stake in Russian AB InBev Efes to Turkish partner

Belgian brewing company AB InBev has announced the sale of a stake in a Russian joint venture with Turkey's Anadolu Efes. Associated with the withdrawal from Russia, non-cash write-offs in the first quarter will amount to $1.1 billion, the stake will be sold to a Turkish partner, with whom negotiations are being completed. The deal involves a ban on the use of the Bud brand in Russia.

A joint venture between the Belgian AB InBev and the Turkish Anadolu Efes - AB InBev Efes - operates 11 factories in Russia, produces beer under the brands Klinskoye, Belyy Medved, Sibirskaya Korona, Velkopopovicky Kozel and others. A Turkish company owns a controlling stake in the joint venture .

The day before, Kommersant, citing sources, reported that Carlsberg Group, which announced its withdrawal from Russia, could sell Baltika brewing company to AB InBev Efes. On Thursday, Carlsberg said it cut its profit forecast amid the exit from Russia and will face a write-off of $1.4 billion.

In 2020, Baltika occupied about 27% of the Russian beer market, while AB InBev Efes had 30%.

The Dutch Heineken also announced its withdrawal from Russia at the end of March. According to Kommersant, the company is still looking for buyers for its Russian assets. Sources of the publication say that seven Heineken factories in Russia can be sold to various interested parties.