The Dutch brewery Heineken announced that it has decided to withdraw from Russia, after previously stressing that it will stop new investments and exports there, with a burden (as estimated) of 400 million Euros.
“We have concluded that the holding of the company’s activities in Russia is no longer viable or visible in the current environment,” she said in a statement, adding that she would not make a profit from any transfer of ownership.
Heineken said the goal is a “smooth transfer” and that it will continue to operate with reduced operations during a transitional period to minimize the risk of nationalization.
The company stressed that it will guarantee the salaries of its 1,800 employees by the end of the year.
Ukrainian President Zhelensky has called on international companies to withdraw from the Russian market following Russia’s attack on his country.
The rival Carlsberg, which owns Russia’s largest black Baltika, continues to sell beers under the Baltika brand, but said earlier that it had launched a strategic review of operations in the country, and suspended the Russian unit.
“Heineken’s decision probably will not ease the situation for Carlsberg,” analysts said.
Earlier this month, Heineken said it would stop making and selling black in Russia and would no longer accept any financial benefits from its operations there.
Source: Capital
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