Russian Authorities Reject Deal Allowing Budweiser Owner Anheuser-Busch InBev to Exit Country

Russian regulatory authorities have rejected a proposed transaction between Anheuser-Busch InBev (AB InBev) and beverage company Anadolu Efes to transfer AB InBev’s non-controlling stake in its Russian joint venture, AB InBev Efes BV, to the Turkish brewer. This decision marks a hurdle in AB InBev’s strategy to withdraw from the Russian market following the country’s invasion of Ukraine. However, as with many companies attempting to divest from Russia, the deal was contingent on obtaining the necessary regulatory and governmental approvals. AB InBev, the world’s largest brewer by volume, initially announced in April 2022 its intention to sell its interest in the joint venture to Anadolu Efes, according to press releases by both companies....