Dutch brewer Heineken has completed its exit from Russia by selling its operations to Russia’s Arnest Group for one euro, Reuters reports.
The deal, which had faced delays, is expected to result in exceptional losses of 300 million euros ($324.8 million) for Heineken.
Heineken had seven breweries in Russia and 1,800 employees, who will receive employment guarantees for the next three years.
The company had announced its intention to leave Russia in March 2022 amid Russia’s invasion of Ukraine.
