Anadolu Efes plummets after Russian JV placed in temporary management

Coca-Cola Icecek AS

31/12/2024 08:02

** Shares in Anadolu Efes  AEFES.IS  extend losses and drop
around 10% after the Turkish brewer's joint venture with AB
InBev  ABI.BR  in Russia was placed in temporary management by
presidential decree
    ** Belgian brewer AB InBev's sale of Russian JV stake to
Anadolu Efes was previously rejected by Russian authorities
    ** Russian operations constituted 66% of Anadolu Efes' total
beer sales volume in 2023, brokerage Ata Yatırım notes 
    ** The stock falls for second day in a row after it lost 10%
on Monday; it is the worst performer of Istanbul's BIST-100
 .XU100  index
    ** It hits the Turkish stock exchange's 10% cap on daily
losses
    ** Anadolu Efes' parent company Anadolu Holding  AGHOL.IS 
drops more than 8%, while Coca Cola Icecek  CCOLA.IS  in which
Anadolu Efes has 50% stake, slips around 3.5%

    

 (Reporting by Miraç Eren Dereli)
 ((miraceren.dereli@thomsonreuters.com))