CEO Van den Brink said pulling out of Russia had been delayed due to the 'real risk for legal prosecution' for Heineken's local staff.
Heineken finally cut ties with Russia 18 months after the Ukraine invasion.Only about half the western companies that pledged to leave Russia have made a clean break, per a Yale study.The token one euro payment transferred its assets, including seven breweries, to Russia's Arnest Group. Heineken will take a hit of about 300 million euros following the sale,"I wish we would have been able to close this deal many months before," Heineken CEO Van den Brink said Friday.
A Financial Times analysis of 600 companies' financial reports showed that 176 had recorded losses due to the sale or closure of operations in Russia, or a reduction in business there.found that just over half of 1,000 companies that pledged to leave Russia have made a clean break. Last month Unilever, which makes products such as Dove soap, said leaving Russia was "not straightforward" because the government would take over its facilities if it walked away,
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