Anadolu Efes says has not received official response regarding deal with AB InBev

MOSCOW. Aug 6 (Interfax) - Anadolu Efes has not received an official response from the Russian regulatory authorities regarding its deal with the Belgian AB InBev, the Turkish company said in a statement.

In the course of the deal, the Turkish company planned to buy a stake in their joint Russian business - AB InBev Efes.

"Today, there have been news in the media indicating that the transaction was rejected by the regulatory bodies; however, we have not received any official response as such. Any developments in this regard will be duly announced," Anadolu Efes said.

The company said that as formerly stated, the completion of the transaction was contingent upon obtaining the necessary regulatory approvals. The legal process was initiated on December 19, 2023.

RBC reported, citing three sources familiar with the results of a meeting of the government commission for control over foreign investments on June 20, that the commission refused to clear Efes Breweries International BV, through which the Turkish brewer Anadolu Efes operates worldwide, to purchase a stake in the Dutch AB InBev Efes BV. This company is a joint venture of Anadolu Efes and the Belgian Anheuser-Busch InBev, which manages their Russian business through AB InBev Efes, InBev Trade, Vostok Solod and Basteels Tech (Bud, Hoegaarden, Klinskoye and other brands).

RBC's sources did not say why the deal as refused. The government said questions should be put to the Finance Ministry, which declined to comment. The business in Russia continues to operate as usual under the management of Anadolu Efes.

AB InBev Efes owns 11 breweries and three malt house complexes in Russia. The company's revenue grew 11.4% to 108.6 billion rubles in 2023. Net profit increased from 12.3 billion rubles in 2022 to 16.7 billion rubles in 2023. AB InBev Efes produced 23.2 million hectoliters of beer and 527,700 hl of kvass, cider and water in 2023.