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Heineken says it still has plans to pull out of Russia if a buyer is found

Dutch beer giant Heineken said Wednesday it was still planning to pull out of Russia after media reports said it had “broken its promise” to pull out of Moscow’s invasion of Ukraine.

Dutch research website Follow the Money said the Amsterdam-based beer company has continued to operate in Russia despite pledging last year to halt investments.

Heineken has stopped selling the beer of the same name, but has introduced 61 new products to the Russian market, including more than three Amstel-branded beers, the report said.

However, Heineken said in a statement: “The reports that ‘Heineken has broken its promise to leave Russia’ are completely false and misleading.”

The Russian-based company is still operating, he said, but “to prevent nationalization and endanger livelihoods.”

“We are working very hard to ensure the transfer of the Russian company to a reliable buyer under very difficult circumstances,” Mr. Heineken said.

The company expects to lose about €300 million ($319 million) on the sale.

“We aim to complete the sale of the Russian business in the first half of 2023,” Heineken said.

Heineken is one of the major brands such as Apple, McDonald’s, etc. to announce its withdrawal from Russia after Moscow invaded Ukraine a year ago.


https://www.expatica.com/nl/general/heineken-says-still-plans-to-quit-russia-once-buyer-is-found-525967/ Heineken says it still has plans to pull out of Russia if a buyer is found

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