AB InBev to sell its interest in Russian JV
NYSE- and JSE-listed Anheuser-Busch InBev (AB InBev) will sell its noncontrolling interest in the AB InBev Efes joint venture (JV) and is in active discussions with its partner, Turkish Brewer Anadolu Efes, to acquire this interest.
AB InBev’s request regarding the suspension of the licence for the production and sale of Bud in Russia will also be part of a potential transaction.
AB InBev previously announced it was forfeiting all financial benefit as a noncontrolling partner from the JV operations.
As a result, AB InBev is de-recognising the investments in AB InBev Efes and will report a $1.1-billion noncash impairment charge in the non-underlying share of results of associates as part of its first-quarter results announcement.
Together with its partner, AB InBev says it continues to support its employees, their families and the humanitarian relief efforts in Ukraine.
Support for its displaced employees and their families includes counselling, housing and financial support.
In addition to donating to nongovernmental organisations (NGOs) and the relief organisation Caritas, AB InBev is working in partnership with them, other companies and local NGOs to provide food, blankets, medical supplies and three-million cans of emergency drinking water to Ukraine and surrounding refugee relief areas.
AB InBev has also introduced beer brand Chernigivske to many countries, including the UK, Germany, Belgium, France, Netherlands, Denmark, Austria, Poland, Italy, Colombia and Brazil with additional markets planned.
All profits from the sale of Chernigivske will go towards supporting the humanitarian relief efforts and AB InBev is guaranteeing at least $5-million in support from this humanitarian initiative.
AB InBev says its focus remains on assisting its people, their families and the overall humanitarian relief efforts, while wishing for peace.
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