AB InBev sale of Russian JV stake to Anadolu Efes rejected by authorities
Adds detail on implications of decision in paragraph 8; shares in paragraph 11
LONDON, Aug 8 (Reuters) -Russian authorities have rejected Anheuser-Busch InBev ABI.BR and Anadolu Efes' AEFES.IS deal whereby the world's top beer maker would sell its stake in their Russian joint venture to the Turkish brewer, the companies said on Thursday.
AB InBev, the world's biggest brewer by volume, said in April 2022 it would sell its interest in the venture to Anadolu Efes in order to exit Russia following its invasion of Ukraine. But the deal required regulatory and government approvals.
AB InBev and Anadolu Efes said in separate statements on Thursday that these approvals had not been granted. The Turkish brewer added it had received notice of the decision on Wednesday and it would share updates in due course.
"Anadolu Efes and AB InBev are reviewing the decision," AB InBev's statement said. "The business in Russia continues to operate under the direction of Anadolu Efes management."
The companies did not elaborate on the reason for the rejection.
The news makes AB InBev the latest in a string of companies to have their efforts to exit Russia scuppered by authorities.
Rival brewer Carlsberg had its Russian unit seized after announcing it had agreed to sell it to an undisclosed buyer in 2023, prompting CEO Jacob Aarup-Andersen to say its business had been "stolen".
AB InBev has already suspended sales of its brand Bud in the country, forfeited all financial benefits from the joint venture and taken a $1.1 billion non-cash impairment related to its non-controlling stake. As a result, it is unclear if there are any consequences for the brewer from the Russian authorities' decision.
The companies' 50:50 joint venture, formed in 2018, operates in Russia and Ukraine, where it has 11 breweries and three breweries respectively.
AB InBev and Anadolu Efes' announcement follows a report from a Russian paper earlier this week which said the deal had been rejected, citing sources.
AB InBev's shares were down 0.8% at 0835 GMT. Anadolu Efes' stock was up more than 4%.
Reporting by Emma Rumney in London and Canan Sevgili in Gdansk; editing by Jason Neely and David Evans
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
