19 April, 2023

The Netherlands & Russia: Heineken asks regulators to approve sale of its Russian business

Dutch brewer Heineken has asked regulators in the Russian Federation to approve the sale of its business in Russia, Reuters reported.

"If and when we have approval, we will share further details about the buyer," the company said on April 19.

The disclosure was made in a trading update in which the company forecast its operating profit this year will increase by a mid to high single-digit percentage.

Heineken has previously said it plans to exit Russia, taking a 300 million euro ($329 million) loss.

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