31.12.2024 15:10
Russian leader Vladimir Putin's appointment of a trustee to Anadolu Efes's company in Russia caused a significant public outcry. Anadolu Efes issued a statement regarding the temporary transfer of its assets in Russia, saying, "We will comprehensively assess the situation with our partners and take all necessary steps."
Russian President Vladimir Putin made an interesting decision by appointing a trustee to Anadolu Efes's alcoholic beverage production company AB InBev Efes BV in Russia.
SHARES DROPPED BY 10%
As the company was temporarily transferred to the management of an entity called "GK Vmeste," Anadolu Efes's shares on the stock market dropped by 10% following the decision.
STATEMENT FROM ANADOLU EFES TO KAP
Anadolu Efes made a statement regarding the temporary transfer of its assets in Russia. In the information provided to KAP, the company stated, "Today, a decree has been published by Russia transferring the temporary management of the Russian part of our joint venture (JV) with AB InBev."
"ALL NECESSARY STEPS WILL BE TAKEN"
The statement indicated that this situation would be comprehensively evaluated with the partners and that all necessary steps would be taken. Following this development, AFES shares closed at 212.80 lira, down 9.98%.
ONE OF RUSSIA'S TOP 3 PRODUCERS
AB InBev Efes operates as one of the top 3 alcoholic beverage producers in Russia, with 11 alcoholic beverage factories and 3 production facilities. The company started operations in 2018 as a joint venture between Turkish Anadolu Efes and Belgian AB InBev. With the trustee decision, the last major player in the Russian alcoholic beverage sector, which has long been under foreign control, has now been placed under local supervision.