On June 20, the Government Commission for the Control of Foreign Investments denied Efes Breweries International BV. purchasing a stake in the Dutch AB InBev Efes BV, writes RBC .
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AB InBev Efes BV is a joint venture (JV) of Anadolu Efes and the Belgian Anheuser-Busch InBev. It manages their Russian business through the companies AB InBev Efes, InBev Trade, Vostok Malt and Bastils Tech, which include the beer brands Bud, Hoegaarden, and Klinskoye.
At the moment, the reasons for the commission's refusal are unknown. Representatives of Anadolu Efes noted that business in Russia continues to operate as usual under the leadership of Anadolu Efes. The parties had to agree on the deal with the Russian authorities based on the requirements of presidential decrees (No. 618 and No. 737), establishing a special procedure for their implementation for residents from unfriendly countries.
It was assumed that after the deal was closed, Anadolu Efes would become the sole owner of the Russian business. According to the announced plan, settlements for the transaction should be deferred and depend on the results of the joint venture.
In April 2022, the Belgian AB InBev announced that it would sell its stake in AB InBev Efes in Russia. The company emphasized that this decision would lead to non-cash losses from write-offs of $1.1 billion. In December 2023, it was reported that Anadolu Efes agreed to purchase AB InBev’s share in the Russian joint venture.
AB InBev Efes project for responsible alcohol sales is expanding
