Anheuser-Busch InBev has been notified that the pre-agreed exit from its joint-venture in Russia has not been granted governmental approval.
Late last year, the Budweiser brand owner announced that Anadolu Efes will take sole control of their joint business in the country. The move, which would not have included any payment, was subject to “required regulatory and governmental approvals”.
However, AB InBev confirmed last week that the approvals “were not obtained”.
“Anadolu Efes and AB InBev are reviewing the decision,” the group said. “The business in Russia continues to operate under the direction of Anadolu Efes management.”
The matter has a similarity to Carlsberg’s attempts to withdraw from the country; the company saw its Baltika Breweries operations in Russia handed to the Federal Agency for State Property Management by presidential decree just over a year ago, despite having found a willing – albeit unnamed – buyer.
Like other multinationals, the two brewers have been working to step away from Russia since its invasion of Ukraine in early 2022. Heineken finalised the sale of its operations almost exactly a year ago, for a token sum of EUR1.
