Anadolu Efes drops further on Russia JV woes

Anadolu Efes Biracilik ve Malt Sanayii

02/01/2025 11:22

** Shares in Turkish brewer Anadolu Efes  AEFES.IS  drop
almost 10%, extending weekly losses, after the Russian
presidential decree to place shares of joint venture AB InBev
Efes under temporary management on Monday
    ** Anadolu Efes shares have slumped more than 26% since the
decree, shedding off some 37.18 billion lira ($1.05 billion)
from its market value so far
    ** Yusuf Doğan, Head of Global Markets Research at Info
Yatırım points to lack of further communication by Russian
government officials
    ** "Sentiment remains negative, and the extent of the
decline will depend on whether Russia issues a specific
response," Doğan says
    ** The stock is trading at its lowest since late April and
is among the worst performers of Istanbul's BIST-100  .XU100 
index

($1 = 35.3139 liras)

 (Reporting by Miraç Eren Dereli, Canan Sevgili)
 ((miraceren.dereli@thomsonreuters.com
 canan.sevgili@thomsonreuters.com))