AB InBev amends Russia exit plans

Anheuser-Busch InBev NV announced on Wednesday that it had revised its plan to exit Russia after Moscow blocked the original transaction in early August.

AB InBev amends Russia exit plans

Under the updated agreement, AB InBev’s Turkish partner, Anadolu Efes, will acquire AB InBev’s stake in the Russian business and take over Anadolu’s shareholding in their Ukrainian operations. The Russian and Ukrainian operations are part of AB InBev Efes, the joint venture between AB InBev and Anadolu Efes. The Belgium-based brewing giant said the revised deal, including the purchase price and other terms, is still subject to regulatory and governmental approvals.

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InBev cautions on Russian market exit, seeks approvals for sale to Anadolu Efes

In a brief statement, AB InBev cautioned that there is no guarantee on when or if these approvals will be granted. The company has been seeking to exit the Russian market as a protest against Russia’s invasion of Ukraine. Last December, AB InBev, which owns brands like Budweiser and Corona, agreed to sell its interest in AB InBev Efes to Anadolu Efes. The two companies had been in "active discussions" regarding the joint venture since April 2022, when AB InBev announced its intention to write down $1.1 billion after selling its stake in the Russian business.