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)

pixabay

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.

Other news from the department business & finance

More news from our other portals

Last viewed contents

Chickpeas – sustainable and climate-friendly foods of the future - Chickpeas are a drought-resistant legume plant with a high protein content

Chickpeas – sustainable and climate-friendly foods of the future - Chickpeas are a drought-resistant legume plant with a high protein content

Suntory Group Global Water Action on the Celebration of World Water Day

Suntory Group Global Water Action on the Celebration of World Water Day

Whiskey and cognac businesses deliver record results for Pernod Ricard

Whiskey and cognac businesses deliver record results for Pernod Ricard

Coca-Cola turns UEFA EURO 2024TM into a sales highlight - with Coca-Cola Zero Sugar and POWERADE

Coca-Cola turns UEFA EURO 2024TM into a sales highlight - with Coca-Cola Zero Sugar and POWERADE

Hügli maintains profitability in demanding market environment - Market changes and macroeconomics put brakes on growth

Ball Intends to Cease Production at its Beverage Packaging Facilities in Recklinghausen, Germany

Grinding coffee with a splash of water reduces static electricity and makes more consistent and intense espresso

Grinding coffee with a splash of water reduces static electricity and makes more consistent and intense espresso

Foodservice Delivery in Latin America: The Search for Growth

Foodservice Delivery in Latin America: The Search for Growth

Tradition dominates the festive food market but modern approaches are gaining popularity

Tradition dominates the festive food market but modern approaches are gaining popularity

Mondelēz International Acquires Hu, A Well-being Snacking Company - Prremium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snacking

Mondelēz International Acquires Hu, A Well-being Snacking Company - Prremium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snacking

Dishing up 3D printed food, one tasty printout at a time - New method for 'printing' fresh vegetables, leading to tastier, more nutritious food for patients with swallowing difficulties

Dishing up 3D printed food, one tasty printout at a time - New method for 'printing' fresh vegetables, leading to tastier, more nutritious food for patients with swallowing difficulties

Cutting-edge food, food-tech and agtech startups are invited to apply to pitch - Global Pitch Competition FoodBytes! by Rabobank