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The
announcement by the world's largest brewer, based in Belgium,
comes after similar moves from its rivals Carlsberg and
Heineken.
In March, AB InBev suspended sales of its Budweiser brand in
Russia and had forfeited financial benefit from its Russian JV,
following the lead of other major brewers in reaction to
Russia's invasion of Ukraine, which Moscow dubs a "special
operation".
"AB InBev today announced that it will sell its non-controlling
interest in the AB InBev Efes joint venture and is in active
discussions with its partner, Turkish brewer Anadolu Efes, to
acquire this interest," AB InBev said in a statement.
AB InBev has a 24% stake in Anadolu Efes, part of its 2016
purchase of its next largest rival SABMiller. They formed the AB
InBev Efes joint venture in 2018, combining their respective
Russian and Ukrainian businesses.
The joint venture has 11 breweries in Russia, employing 3,500
people and three in Ukraine, employing 1,800. Carlsberg is the
leading Western player in Russia, followed by AB InBev.
The Danish brewer said on Thursday its decision to sell its
business in Russia would result in a writedown of about $1.39
billion.
Dutch rival Heineken has said its Russia exit would amount to
related charges of about 400 million euros ($434 million).
AB InBev also said it had introduced Chernigivske, Ukraine's
most popular beer brand, to many countries, including Britain,
Germany, Belgium, France and the Netherlands.
"All profits from the sale of Chernigivske will go to support
humanitarian relief efforts and AB InBev is guaranteeing at
least five million dollars of support from this humanitarian
initiative," it said.
($1 = 0.9224 euros)
(Reporting by Benoit Van Overstraeten; additional reporting by
Philip Blenkinsop in Brussels; editing by Marine Strauss and
Jason Neely)
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