Dutch brewer Heineken is selling its Russian assets for 1 euro — and losing €300 million.
The new owners will receive all Heineken's Russian assets, including 7 breweries. The buyer also took responsibility for 1,800 Russian employees.
“The deal completes Heineken’s withdrawal process from Russia, which began in March 2022, resulting in an expected total loss of €300 million,” the brewing company said in a press release.
The buyer is Arnest Group, which produces antiperspirants, air fresheners and insecticides.
There is no “buy back” option in the deal.
Heineken is taking its brands with it. In 2019, the company paid €400M in taxes in Russia.
On 22 August, Japanese company Uniqlo announced its exit from the Russian market.
They left with a bang: The company terminated all lease contracts, paid the penalties, fired all staff, paid them their 11-month wages, and transferred Japanese managers to other countries.
On 21 August, Domino's Pizza has announced that it will bankrupt its Russian assets.
Unable to find a buyer, the company decided to simply leave without transferring the business to anyone.
Dutch brewer Heineken is selling its Russian assets for 1 euro — and losing €300 million.
The new owners will receive all Heineken's Russian assets, including 7 breweries. The buyer also took responsibility for 1,800 Russian employees.
“The deal completes Heineken’s withdrawal process from Russia, which began in March 2022, resulting in an expected total loss of €300 million,” the brewing company said in a press release.
The buyer is Arnest Group, which produces antiperspirants, air fresheners and insecticides.
There is no “buy back” option in the deal.
Heineken is taking its brands with it. In 2019, the company paid €400M in taxes in Russia.
On 22 August, Japanese company Uniqlo announced its exit from the Russian market.
They left with a bang: The company terminated all lease contracts, paid the penalties, fired all staff, paid them their 11-month wages, and transferred Japanese managers to other countries.
On 21 August, Domino's Pizza has announced that it will bankrupt its Russian assets.
Unable to find a buyer, the company decided to simply leave without transferring the business to anyone.
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