AB InBev just can’t get rid of Russian subsidiary

Once again, Russian authorities have blocked the sale of AB InBev‘s stake in its Russian joint venture with Turkish brewer Anadolu Efes. The brewer has been trying to get rid of the Russian subsidiary for years.

Nationalised

In December 2023, AB InBev announced it would sell its non-controlling 50 per cent stake in the Russian (and Ukrainian) joint venture to its Turkish partner Anadolu Efes, without compensation. But Russian authorities refused to approve the deal in the middle of last year.

In October 2024, the two companies came up with a new proposal: while Anadolu Efes would fully incorporate the Russian joint venture, AB InBev would gain full control of the Ukrainian joint venture. But even under the new terms, Russian regulators have refused the transaction, reports Anadolu Efes. “We are looking at next steps with AB InBev,” said the Turkish company, in which AB InBev has a stake of almost a quarter.

In December last year, Moscow nationalised AB InBev Efes’ 11 Russian breweries and gave control to local group Vmeste.