CABJF - Brewer AB InBev to divest its interest in Russia JV

Anheuser-Busch InBev (NYSE:BUD) said on Friday it would sell its stake in Russian joint-venture AB InBev Efes which will result in a $1.1 billion impairment charge in its first quarter results, as it joins the global move to exit operations following the country’s invasion of neighboring Ukraine. The move comes in wake of decisions across the beer industry to halt operations which includes its rivals Carlsberg, while Dutch rival Heineken has said in late March it plans to sell its business in the country and that its Russia exit would amount to related charges of about 400 million euros ($434 million). AB InBev said a request to suspend the license for production and sale of the Bud brand in Russia will also be part of a potential deal for the Russia JV. In March, AB InBev suspended sales of its Budweiser brand in Russia and had forfeited financial benefit from its Russian JV, following

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Brewer AB InBev to divest its interest in Russia JV