Heineken has completed its lengthy exit from Russia with the sale of its operations there for a symbolic €1, after Moscow clamped down on asset sales in retaliation for western sanctions.
The Dutch brewer, which also owns the Amstel, Birra Moretti and Tiger brands, said it would be taking a €300m loss as a result of the sale, which will see it transfer all of its remaining assets, including seven breweries, to Russia’s Arnest Group.
