Russia Blocks AB InBev's Exit Deal with Anadolu Efes

Russian authorities have blocked the deal between AB InBev and Anadolu Efes, preventing AB InBev from selling its stake in their Russian joint venture to the Turkish brewer. The decision comes amid a wave of companies facing difficulties exiting Russia amid ongoing geopolitical tensions.

Russian authorities have dashed plans for AB InBev to sell its stake in a joint beer venture to Turkish brewer Anadolu Efes, the companies announced on Thursday, adding to a string of thwarted exits from the country amid geopolitical tensions.

AB InBev, the world's largest brewer, had signaled its intent to exit Russia in April 2022 following the invasion of Ukraine, agreeing to sell its interest in the joint venture to Anadolu Efes. However, this sale required regulatory approvals from the Russian authorities, which were not granted, as stated by both companies.

Despite the setback, Anadolu Efes will continue to manage the Russian operations, while AB InBev joins other firms like Carlsberg in navigating complex exit strategies from the Russian market.

(With inputs from agencies.)