Heineken Completes , 1-Euro Sale , of Russian Operations .<br />On August 25, Heineken said the brewer's <br />exit from Russia has finally been completed.<br />Reuters reports that the Dutch <br />brewer sold its Russian operations to <br />Arnest Group for a symbolic single euro.<br />Reuters reports that the Dutch <br />brewer sold its Russian operations to <br />Arnest Group for a symbolic single euro.<br />According to the world's second-largest <br />brewer, the deal was expected to come <br />with exceptional losses of $324.8 million. .<br />According to the world's second-largest <br />brewer, the deal was expected to come <br />with exceptional losses of $324.8 million. .<br />In March of 2022, Heineken <br />announced its plans to exit Russia <br />following the invasion of Ukraine. .<br />In March of 2022, Heineken <br />announced its plans to exit Russia <br />following the invasion of Ukraine. .<br />Reuters reports that the brewer <br />has acknowledged that the process <br />took longer than expected. .<br />Recent developments demonstrate <br />the significant challenges faced <br />by large manufacturing <br />companies in exiting Russia, Dolf van den Brink, Heineken CEO, via Reuters .<br />Due to unprecedented sanctions imposed on <br />Russia by the West, numerous multinational <br />companies have sought to leave Russia. .<br />Due to unprecedented sanctions imposed on <br />Russia by the West, numerous multinational <br />companies have sought to leave Russia. .<br />Fellow brewer Anheuser-Busch InBev <br />is among the major companies to announce <br />plans to abandon joint ventures in Russia. .<br />Fellow brewer Anheuser-Busch InBev <br />is among the major companies to announce <br />plans to abandon joint ventures in Russia. .<br />In July, Russian President Vladimir Putin <br />signed a decree taking control of French<br />yogurt maker Danone's Russian subsidiary.<br />In July, Russian President Vladimir Putin <br />signed a decree taking control of French<br />yogurt maker Danone's Russian subsidiary.<br />At the same time, <br />the government took control <br />of beer company Carlsberg's <br />stake in a local Russian brewery. .<br />Reuters reports that Heineken operated seven breweries <br />in Russia, employing some 1,800 people who received <br />work guarantees for the next three years. .<br />Reuters reports that Heineken operated seven breweries <br />in Russia, employing some 1,800 people who received <br />work guarantees for the next three years.
