Heineken Announces Exit From Russia, Expects to Lose 400 Million Euros

Heineken Announces Exit From Russia, Expects to Lose 400 Million Euros
Heineken beer bottles are seen at a bar in Monterrey, Mexico, on June 20, 2017. Daniel Becerril/File Photo/Reuters
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Dutch brewer Heineken has said it will exit its business operations in Russia—a move the company expects will cost 400 million euros ($438 million).

Heineken previously announced it was halting new investments and exports to Russia, as well as the production, sale, and advertising of the Heineken brand. The Amsterdam-headquartered company had also said it would no longer accept any net financial benefits or profit from its business in Russia.

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