Leuven, Belgium-based AB InBev said Friday that it will
dispose of its holding in the AB InBev Efes venture, adding that it’s already
in “active discussions” with partner Turkish Brewer Anadolu Efes about buying
the stake.
The move comes in the wake of decisions across the industry
to halt operations in Russia. Danish brewer Carlsberg A/S on Thursday cut its
earnings guidance and said it’s facing a $1.4 billion writedown as it moves
ahead with plans to exit Russia, while Amsterdam-based Heineken NV said in late
March it plans to sell its business in the country.
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.
AB InBev had previously announced that it would forfeit all
financial benefit as a non-controlling partner from the venture, and the
company will report a resulting $1.1 billion non-cash impairment as part of its first-quarter results.
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