ST. LOUIS – Anheuser Busch-InBev is selling its interest in a joint venture with a Turkish brewer (Anadolu Efes) operating in Ukraine and Russia.
Friday's announcement comes after similar moves made by its rival brewers Carlsberg and Heineken, following the Russian invasion of Ukraine.
Bloomberg News Senior Editor Jerrold Colten had this reaction to the reported $1.1 billion hit the corporation's expected to take, "As much money as that sounds like, it's probably more of a symbolic hit for a company like AB-InBev than a practical matter. But, as a symbolic issue, it is quite important them pulling out of Russia."
Colten adds, "The most-notable thing about the move in business terms, is that Russia was a good potential growth market for AB-InBev, and now that's gone. They'll have to search somewhere else."
