Heineken Completes Russia Exit, Sells Operations for 1 Euro

WebProNews
Heineken Completes Russia Exit, Sells Operations for 1 Euro

Heineken has completed its exit of the Russian market, selling in-country operations for a mere 1 euro.

Companies large and small have pulled out of Russia in response to its invasion of Ukraine. Heineken had promised to do the same, but the process took longer than anticipated.

Heineken sold its Russia operations to Arnest Group, ensuring its 1,800 employees in Russia will remain employed by the new company for at least three years.

“We have now completed our exit from Russia. Recent developments demonstrate the significant challenges faced by large manufacturing companies in exiting Russia,” said Dolf van den Brink, Heineken CEO. “While it took much longer than we had hoped, this transaction secures the livelihoods of our employees and allows us to exit the country in a responsible manner.”

Heineken Completes Russia Exit, Sells Operations for 1 Euro
Staff

from WebProNews https://ift.tt/WPxb4QL