Dutch brewer Heineken sells its Russian operations for 1 euro, taking a 300-million-euro hit ...Middle East

THE HAGUE, Netherlands (AP) — Dutch brewer Heineken has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine, selling its business in Russia for just 1 euro, the company announced Friday. Heineken said it would incur a total loss of 300 million euros ($325 million) for the sale to Russian manufacturing giant the Arnest Group. Heineken had faced criticism for the slow pace of its exit in the wake of the outbreak of war, but insisted it was seeking to look after its local employees in Russia. In March last year, Heineken had said it was quitting Russia as its business there was “no longer sustainable nor viable in the current environment,” bu

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