AB InBev has announced that it plans to sell its non-controlling stake in its Russian joint venture AB InBev Efes.
The company is looking to divest the interest to its joint venture partner, Turkish brewer Anadolu Efes, and says that active discussions are underway.
AB InBev says it will report a $1.1 billion impairment charge in its first-quarter results as a repercussion of the sale.
According to Reuters, AB InBev has a 24% stake in Anadolu Efes. The companies formed the AB InBev Efes joint venture in 2018, combining their respective Russian and Ukrainian businesses.
AB InBev said in a statement: “Together with its partner, AB InBev continues to support its employees, their families and the humanitarian relief efforts in Ukraine. Support for its displaced employees and their families includes counselling, housing and financial support.”
The statement continued: “In addition to donating to NGOs and the relief organisation Caritas, AB InBev is working in partnership with them, other companies and local NGOs to provide food, blankets, medical supplies and 3 million cans of emergency drinking water to Ukraine and surrounding refugee relief areas.”
AB InBev’s decision to sell its stake in the Russian joint venture comes after similar moves from rivals Carlsberg and Heineken, which have also exited businesses in Russia.
By Lauren Ford
Source: foodbev.com
Heineken has named Guillaume Duverdier as its new regional president for Africa Middle East (AME), effective 1 July 2025. Duverdier will also join the company’s executive team, succeeding Roland Pirmez, who is retiring after 29 years with the brewer.
The transaction, of which the financial terms were not disclosed, includes seven facilities in total: three dry corn milling facilities in Nebraska, Kansas and Illinois; three dry masa facilities in Texas, Indiana and Iowa; and a transload and packaging facility in Mexico. The dry corn milling division will continue to be headquartered in St Louis, Missouri.
As part of the changes, Elizabeth Duggan, current senior vice president and general manager, will now be president of the company’s snacks division as of 12 May, taking over from Chris Foley, who will step down in July after 25 years with Campbell’s.
