Anadolu Efes agreed to purchase AB InBev’s share in the Russian joint venture AB InBev Efes – Kommersant
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The Turkish brewing company Anadolu Efes has entered into an agreement to purchase the share of the Belgian AB InBev in the Russian joint venture AB InBev Efes. According to data on the Turkish corporate information disclosure platform (KPMG), the deal is estimated at $1.1–1.3 billion.
According to KPMG, Anadolu Efes will be the sole owner of the business in Russia. Ümit Ömer Ogün will be appointed General Director of Operations in Russia from January. He currently holds the post of executive director for special projects of the company.
The deal does not involve AB InBev receiving any upfront payment; the advance will be received by the company later, depending on “how well the business performs,” KPMG said in the material.
In April 2022, the Belgian AB InBev announced that it would sell its stake in the AB InBev Efes joint venture in Russia. Then the company said that this would lead to non-cash losses from write-offs of $1.1 billion. One of the terms of the deal was the suspension of production and sales of Bud beer in Russia. Then Kommersant wrote that the deal would most likely lead to changes in the top management of AB InBev Efes.
AB InBev Efes was formed on March 30, 2018 as a result of the merger of the businesses of AB InBev and Anadolu Efes in Russia and Ukraine. The brand portfolio includes Spaten, Corona Extra, Velkopopovicky Kozel, Hoegaarden, Sibirskaya Korona, Stary Melnik iz Bochonok, Klinskoye, Bely Medved, etc. In Russia, the company operates 11 breweries and three malting complexes in Kazan , Omsk and Saransk.
Read more about the deal in Kommersant’s material. “The partners shared the beer”.
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