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Loss of 2600 crores, company sold for Rs 90; Why did the world's second-largest winemaker take this step?
Heineken, the world's second-largest and Netherlands' liquor maker, has made a comeback by selling its business in Russia with a loss of 2600 crores. Heineken said it lost a total of 300 million euros ($325 million) in selling the company to Russian manufacturing giant Ernst Group. The company said that he had come out of Russia by selling his company for one euro.
Heineken, the world's second-largest liquor company, has consolidated its business in Russia. Dutch liquor maker Heineken has completed its withdrawal from Russia, 18 months after Moscow launched its invasion of Ukraine. The company announced on Friday that it has sold its business in Russia for just 1 euro.
Heineken said it lost a total of 300 million euros ($325 million) in selling the company to Russian manufacturing giant Ernst Group. The company said that he had come out of Russia by selling his company for one euro.
In fact, at the time of the Russia-Ukraine war that started in 2022, Heineken had announced that it would leave Russia, but during this process, the company faced many major challenges, which took time. At present, the company has breweries in Russia and 1800 workers, who were guaranteed employment for the next three years.
