LONDON – On Tuesday, Turkish brewer Anadolu Efes said it had not received a response from Russian regulators on its bid to buy partner Anheuser-Busch InBev (NYSE: BUD) out of a joint venture in Russia after a media report said the deal had been rejected.
AB InBev, the world’s biggest brewer by volume, said in April 2022 that it would sell its interest in the venture to Anadolu Efes to exit Russia following its invasion of Ukraine.
However, the deal requires approval from Russian authorities. On Tuesday, Russia’s RBC business daily reported the government commission on foreign asset sales had turned down the bid, citing three unidentified sources.
Anadolu Efes said in a stock market announcement that it had not received “any official response as such”.
“Any developments in this regard will be duly announced,” it continued, adding the process to seek approvals was initiated in December 2023.
AB InBev (NYSE: BUD) referred Reuters to Anadolu Efes for comment. A spokesperson did not immediately respond to further questions on the implications of any rejection for AB InBev.
The company’s 50:50 joint venture, formed in 2018, operates in Russia and Ukraine, where it has 11 breweries and three breweries respectively.
Russian authorities seized Danish brewer Carlsberg’s Russian business after the company agreed to sell it to an undisclosed buyer in 2023. The move prompted CEO Jacob Aarup-Andersen to say its business had been “stolen”.
(Source: ReutersReuters)
