Heineken says it still plans to exit Russia, take 300 million euro loss

Brewer Heineken still plans to exit Russia and sell its business there at a loss this year, it said, after a Dutch media report questioned whether it had followed through on its March 2022 promise to leave the country. Heineken is still operating in Russia by selling its non-Heineken international brands such as Amstel and launching new products. “We’re working hard to transfer our business to a viable buyer in very challenging circumstances and at significant financial loss to the company,” Heineken said in a statement. It expects a 300 million euro ($320 million) impairment on the business when it is sold, likely in the first half of 2023.