The Dutch brewer Heineken announced the sale of its business in Russia. The buyer of the asset was the Arnest group. There is no repurchase option. This was reported by Forbes in the Heineken press service.
The purchase price of 100% of Heineken shares in Russia (Heineken United Brewery LLC) was 1 euro. Under the terms of the agreement, the new owner agrees to pay an intra-group debt of around 100 million euros.
Heineken indicated that “the deal would imply a total expected cumulative loss of 300 million euros.” In addition, the new owner will not be able to use the name or logo. The name change will take several months.
The scope of the transaction includes all remaining assets in the Russian Federation, including seven breweries. In the next six months, the companies will stop producing drinks under the Amstel brand.
At the same time, licenses for various regional brands will be valid for three years, necessary for business continuity and transaction approval.
Once the asset is transferred to the new owner, the 1.8 thousand employees will keep their jobs for three years; the buyer provided such guarantees as part of the agreement.
Arnest Group is a manufacturer of perfumes, cosmetics and household products in aerosol containers.
According to SPARK, the company’s revenue in 2022 amounted to 11.17 billion rubles, net profit – 259.38 million rubles.
In recent months, Heineken has seen its assets depreciate while waiting for the deal to go through. According to its own data, at the end of July 201 million euros were depreciated.
Author:
Natalia Gormaleva
Source: RB
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