AB InBev sale of Russian JV stake to Anadolu Efes rejected by authorities (updated)

Anadolu Efes Biracilik ve Malt Sanayii

08/08/2024 09:27

(Adds background and context in paragraphs 2, 5-7; details from
brewers' statements in paragraphs 3-4)
       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 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 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 Jacob Aarup-Andersen to say its
business had been "stolen".
    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. 
        
  

 (Reporting by Emma Rumney in London and Canan Sevgili in
Gdansk; editing by Jason Neely and David Evans)
 ((Emma.Rumney@thomsonreuters.com; +447391409253;))