Heineken Sells Its Assets in Russia

Dutch beer giant Heineken has announced the sale of its assets in Russia to the Arnest Group. The purchase price for 100% of Heineken Russia's shares amounted to €1. The deal also requires the buyer to settle the Russian business's intra-group debt to Heineken, which is around €100 million.

All remaining Heineken assets in Russia, including seven breweries, will be transferred to the new owner. Production of beer under the Amstel brand will cease at these breweries over the next six months. The buyer will retain licenses for several regional brands for three years, necessary for ensuring business continuity and deal approval. Heineken will not provide support to these brands or receive any income, royalties, or dividends from Russia.

The top management of Heineken Russia will continue its work and will report to the Arnest Group. Heineken announced its decision to completely exit Russia in March 2022.