Beer brewer AB Inbev writes off $1.1 billion because of Russia

25-Apr-2022 - Belgium
The withdrawal from the business in Russia is weighing on the results of the world's largest beer brewer, AB Inbev, to the tune of just over a billion dollars. The Belgian company wants to sell its share in the joint venture AB Inbev Efes to the Turkish cooperation partner Anadolu Efes. Negotiations on the matter were underway, AB Inbev announced in Leuven on Friday. The EuroStoxx 50-listed company had already announced in March that it intended to withdraw from Russia and forgo revenue from the joint venture. It said the pending sale and forgoing of revenue would result in a $1.1 billion (about 1 billion euros) write-down. (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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