the dutch brewery Heineken has completed the sale of its operations in Russia to Grupo Ernest at the price of 1 euroan operation that will suppose that the group writes down a total accumulated loss of about €300 million.
The transaction, which has received all the required approvals, concludes the process that Heineken began in March 2022 to leave Russia, as confirmed by the multinational, noting that “There is no purchase option to return to Russia”, collect Europa Press.
Thus, the Russian Ernest acquires ownership of the assets in the country of Heineken production plants and will take over the company’s 1,800 employees in Russia, offering them employment guarantees for the next three years.
Likewise, the Dutch company has specified that, besides of the Heineken brand, which was withdrawn from Russia in 2022, Amstel production will be phased out within 6 months and no other international brand will be licensed in Russia, with the exception of a 3-year license for some smaller regional brands necessary to ensure business continuity and transaction approval.
Thus, Heineken will not provide brand support and will not receive revenue, royalties or fees from Russia.