Heineken sells off Russian beer business for €1 - BBC News

The lager-maker will take a huge loss on the division which, it said, had taken longer to jettison.

3 hours agoShareclose panelShare pageCopy linkAbout sharingRelated TopicsRussia-Ukraine warImage source, Getty ImagesHeineken has finally sold off its Russian business for €1 - or 86p - nearly a year and a half after first pledging to do so.

The Dutch brewer said it will take a loss of €300m on the division, which is being offloaded to Russia's Arnest, which makes aerosol cans.

Many Western firms jettisoned their Russian operations when the country invaded Ukraine last February.

Heineken's Dolf van den Brink said: "It took much longer than we had hoped."

The chief executive and chairman added: "[But] this transaction secures the livelihoods of our employees and allows us to exit the country in a responsible manner."

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