Russian President Vladimir Putin has transferred shares in Russian brewer AB InBev’s joint venture to temporary management, according to a decree published on a Russian government website on Monday.
Anheuser-Busch InBev, the world’s largest brewer by volume, had announced in April 2022 that it would sell its stake in the joint venture to its Turkish partner, the brewer Anadolu Efes, with the aim of exiting Russia following the country’s invasion of Russia. Ukraine. However, the deal was rejected by Russian authorities earlier this year.
Putin has managed to place companies under temporary management through a decree published in April 2023. This decree grants the manager full control over assets, except the ability to dispose of them.
The decree established that more than 15 billion shares of the AB InBev/Anadolu Efes joint venture were placed under the management of the Vmeste group of companies, an entity incorporated in Moscow last August.
AB InBev is among several Western companies whose efforts to exit Russia have been thwarted by Russian authorities.
