Heineken announced the completion of the deal to exit the Russian business

Brewing company Heineken has completed the sale of its Russian subsidiary Arnest Group. This was reported on the company’s website.

The deal received all the necessary approvals, the purchase price of the Russian business was 1 euro for 100% of the shares. New owners will be transferred to seven breweries in Russia. Arnest Group has taken responsibility for 1,800 Heineken employees in Russia, providing job security for the next three years. It is also specified that the deal was concluded without a buyback option, the company noted that “there is no option to return to Russia.”