Heineken leaves Russia after selling up for €1

Heineken has finally quit Russia 18 months after the invasion of Ukraine.

The Dutch brewer, which also makes Amstel and Birra Moretti beers, has sold its business in the country, including seven breweries, to Russian company Arnest Group for €1.

Heineken said it expects to incur a total loss of £256million as a result.

Bosses at the brewer (whose alcohol-free Heineken 0.0 was advertised by James Bond actor Daniel Craig) admitted it ‘took much longer than we had hoped’, after it faced criticism for the slow pace of its exit in the wake of the outbreak of war. 

Shaken not stirred: The brewer’s alcohol-free Heineken 0.0 was advertised by James Bond actor Daniel Craig

Heineken had insisted it was trying to look after its local employees in Russia. 

In March last year, it said it was quitting Russia as the business there was ‘no longer sustainable nor viable in the current environment’, but added it wanted to ensure an ‘orderly transfer’ to a new owner.

Chief executive and chairman Dolf van den Brink said: ‘We have now completed our exit from Russia.

‘While it took much longer than we had hoped, this transaction secures the livelihoods of our employees.’

Heineken said Arnest, which is based in Tula Oblast, has guaranteed the employment of Heineken’s 1,800 local staff for three years.