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The Independent UK

Via AP news wire

Dutch brewer Heineken sells its Russian operations for 1 euro, taking a 300-million-euro hit

Heineken Russia Moscow Ukraine

Copyright 2018 The Associated Press. All rights reserved.

Dutch brewer Heineken has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine, selling its business in Russia for just 1 euro, the company announced Friday.

Heineken said it would incur a total loss of 300 million euros ($325 million) for the sale to Russian manufacturing giant the Arnest Group.

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