LONDON (Reuters) – Anheuser Busch-InBev and Anadolu Efes have tweaked the terms of a planned deal that would see AB InBev exit a Russian joint venture with the Turkish brewer, they said on Wednesday, after the initial plan was rejected by Russian authorities.
Anadolu Efes agreed to buy AB InBev out of the 50-50 joint venture, spanning Russia and Ukraine, as the world’s top brewer looked to sell its interest following Russia’s invasion of Ukraine. The companies said in August that Russian authorities had rejected the deal.
The companies said in separate statements AB InBev had now agreed to buy Anadolu Efes’ stake in the venture’s Ukraine business, while Anadolu Efes would acquire AB InBev’s stake in the Russian business. They did not elaborate on the reason for the change.
“The transaction, including the purchase price and other terms, is subject to required governmental and other regulatory approvals,” AB InBev said, adding there can be no assurances as to when or whether those will be obtained.
Anadolu Efes added that the joint venture will continue normal operations in the meantime.
(Reporting by Emma Rumney; Editing by Christopher Cushing)
