Putin Places Producer Of Major Beer Brands Under Temporary Management [Video]

Russian President Vladimir Putin on December 30 signed a decree transferring shares of the foreign brewing company AB InBev Efes Russia to the temporary management of the Russia’s Vmeste group of companies.

The move places all the shares of AB InBev Efes Russia, a joint venture between the Belgian brewer and Anadolu Efes of Turkey that launched in 2018, under the temporary control of the Vmeste group, created in August.

The decree also upends the brewer’s plans to exit the country through a deal with Anadolu Efes.

Anadolu Efes and AB InBev agreed in October to swap stakes in their businesses in Russia and Ukraine. Under the deal, the Turkish brewer would become the sole owner of the Russian business, while AB InBev would acquire the Ukrainian unit. AB InBev had previously wanted to sell control of both operations to Anadolu Efes, but Russia objected to …