INSUBCONTINENT EXCLUSIVE:
Dutch giant maker Heineken said Wednesday that it still planned to leave Russia after a media report accusing it of breaking a pledge to
leave over Moscows invasion of Ukraine.Dutch investigative website Follow the Money said the Amsterdam-based maker was still operating in
Russia regardless of making a pledge in 2015 to stop investing.Although Heineken did stop offering its name beer in Russia, it also
introduced 61 new products on the Russian market, including at least three types of beer under its Amstel brand name, the report said.In a
declaration, Heineken explained the reports that the business had broken its promise to leave Russia as definitely incorrect and misleading
Although conceding its Russia-based operation was still running, it was doing so to avoid nationalization and to make sure that livelihoods
are not threatened, it stated
We are working hard to secure the transfer of our company in Russia to a reputable buyer under very tough scenarios, Heineken stated
The business said it expected a loss of around 300 million euros ($319 million) from the sale
We intend to complete the sale of our Russian service in the first half of 2023, Heineken said.Heineken was among significant brands
including Apple, McDonalds, and others that revealed their withdrawal from Russia in the wake of Moscows invasion of Ukraine a year back
