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   From: bidens.bribes@nytimes.com   
      
   pothead  wrote in   
   news:t2kmii$3mncl$97@news.freedyn.de:   
      
   > Obviously the Dutch approve of Russia's actions.   
      
   Heineken has finally completed its pullout from the Russian market, but it   
   did so at a steep cost.   
      
   The brewer on Friday announced it had completed the sale of its seven   
   breweries in the country to Arnest Group for roughly $1, less than the   
   retail price of one of its beers.   
      
   The symbolic transaction will cost the company $324 million, but it hopes   
   to gain some corporate goodwill. The Dutch parent company of Heineken says   
   it has been attempting to leave the country since March 2022, when Western   
   sanctions fell into place due to Russia’s invasion of Ukraine. The slow   
   pace of that exit made Heineken a target for criticism.   
      
   “We have now completed our exit from Russia,” said Dolf van den Brink,   
   Heineken CEO and chairman, in a statement. “Recent developments   
   demonstrate the significant challenges faced by large manufacturing   
   companies in exiting Russia. While it took much longer than we had hoped,   
   this transaction secures the livelihoods of our employees and allows us to   
   exit the country in a responsible manner.”   
      
   The sale will protect the company’s 1,800 former workers in Russia, as   
   Arnest Group, which generally specializes in cosmetics and packaging, has   
   guaranteed their employment for the next three years.   
      
   Heineken beer was removed from the country last year—and production of its   
   Amstel brand in Russia is expected to be phased out within six months,   
   Heineken said.   
      
   The sale will not impact the company’s fiscal guidance.   
      
   While many major brands pulled out of the Russian market, some liquor   
   brands have stayed put. Bacardi, for instance, imported $169 million worth   
   of its rum, Grey Goose vodka, and other spirits in the 12 months ending   
   June 30—and the company is also looking to hire additional staff in the   
   market. Davide Campari-Milano, maker of Wild Turkey bourbon and Appleton   
   Estate rum, has also continued imports to the country. And tea and coffee   
   maker JDE Peets has remained in Russia as well.   
      
   Another brewer, Carlsberg, had hoped to sell its Russian operations, but   
   the government took over the business there instead.   
      
   https://finance.yahoo.com/news/heineken-sells-entire-russia-business-   
   151116892.html   
      
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