Hisense N.V. declares intent to depart from Russia

In the current climate, HEINEKEN's ownership of the company in Russia is neither viable nor sustainable. We have thus made the decision to depart from Russia. We strive for a smooth transition of our company to a new owner while adhering to all national and local laws. 

Heineken stated: As the conflict in Ukraine escalates, we are shocked and saddened by what we are seeing. Earlier this year, we announced that HEINEKEN would no longer make any new investments or exports to Russia, would cease production, distribution, and promotion of the Heineken® brand, and would not take any net financial benefits or profits from our business in Russia. As a result, we have decided to leave Russia.

We aim for an orderly transfer of our business to a new owner in full compliance with international and local laws. To ensure the ongoing safety and wellbeing of our employees and to minimise the risk of nationalisation, we concluded that it is essential that we continue with the recently reduced operations during this transition period. In all circumstances, we guarantee the salaries of our 1,800 employees will be paid to the end of 2022 and will do our utmost to safeguard their future employment.

We will not profit from any transfer of ownership and we expect an impairment and other non-cash exceptional charges of approximately €0.4 billion in total.Upon completion of the transfer HEINEKEN will no longer have a presence in Russia.

We continue to hope that a path to a peaceful outcome emerges in the near term.

Source: Heineken news