Putin Transfers Control of AB InBev Efes to GK Vmeste, Preventing Brewer's Exit

Dec 30, 2024, 03:50 PM

Russian President Vladimir Putin has transferred control of Anheuser-Busch InBev’s joint venture, AB InBev Efes, to a local company, effectively preventing the world's largest brewer from exiting the Russian market. This move comes as part of a broader strategy to assert state control over foreign assets amid ongoing geopolitical tensions. The decree, signed by Putin, designates a newly established intermediary firm, GK Vmeste, to manage the assets of AB InBev Efes, which is a joint venture with Turkey's Anadolu Group. This decision reflects the increasing challenges faced by Western companies operating in Russia, particularly in the brewing sector, where foreign investments have come under scrutiny.