Putin places shares in InBev's Russian entity in temporary management, decree says

Anadolu Efes Biracilik ve Malt Sanayii

30/12/2024 17:04

MOSCOW, Dec 30 (Reuters) - Russian President Vladimir
Putin has transferred shares in brewer AB InBev's Russian joint
venture into temporary management, according to a decree
published on a Russian government website on Monday.
    Anheuser-Busch InBev  ABI.BR , the world's biggest brewer by
volume, said in April 2022 it would sell its interest in the
venture to its JV partner, Turkish brewer Anadolu Efes
 AEFES.IS , in order to exit Russia following the country's
invasion of Ukraine. However, the deal was rejected by Russian
authorities earlier this year.
   Putin has been able to place companies in temporary
management under a decree published in April 2023. It grants the
manager full control of the assets, except for the ability to
dispose of them.  
    The decree said 15,831,786,776 ordinary shares and 92,943
privileged shares in the AB Inbev/Anadolu Efes venture were
placed under the management of the Vmeste group of companies, an
entity incorporated in Moscow last August.
    AB InBev is among several Western companies whose efforts to
exit Russia has been scuppered by Russian authorities.

 (Writing by Felix Light; Editing by David Goodman and Susan
Fenton)