Carlsberg and Heineken Also Exit Russia: "A Necessary Step"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Major foreign media reported on the 28th (local time) that Carlsberg and Heineken, the 1st and 3rd largest companies in the Russian beer market, have decided to withdraw from the Russian market.

Carlsberg stated on the same day, "We have decided to wind down all operations in Russia," adding, "It was a difficult decision, but we believe it is the right thing to do under the current circumstances."

Carlsberg holds a 27% share of the Russian beer market through Baltika, Russia's largest beer company and a 100% subsidiary. It operates 8 breweries and employs 8,400 people in Russia, generating 10% of its total sales and 6% of its operating profit from Russia last year.

Heineken also announced plans to transfer its Russian business to another party and reduce business activities during this period to minimize the risk of nationalization. It added, "We have concluded that continuing operations in Russia is neither sustainable nor feasible."

Heineken declared, "We will not gain any financial benefit from the sale of our Russian business," and "We will continue to pay wages to 1,800 Russian employees until the end of this year."

Bloomberg LP, the parent company of Bloomberg News, also announced on the same day that it will cease operations in Russia and Belarus. Bloomberg stated, "Customers in Russia and Belarus will no longer have access to our financial products, including terminals, data licenses, data supply, and electronic trading platforms."

This content was produced with the assistance of AI translation services.