The world’s biggest brewer will take a $1.1 billion financial hit after finally bowing to pressure to withdraw from the Russian market after Moscow’s invasion of Ukraine.
Anheuser-Busch InBev, which owns brands including Budweiser and Stella Artois, announced that it would be selling its 50 per cent stake in a Russian joint venture to Anadolu Efes, its Turkish partner.
Last month, Carlsberg and Heineken, both with big operations in Russia, said that they were withdrawing from the country. The Danish brewer said that it would suffer a writedown of DKr9.5 billion (£1.1 billion), while its Dutch rival expected to take a €400 million hit.
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