Heineken sold its business in Russia for €1

One of the world's largest brewing companies Heineken N. V. announced that it has closed the sale of its Russian business.

The amount of the deal is symbolic - one euro. At the same time, according to the press release of the brewing giant, the buyer of Heineken's assets in Russia will have to pay off the intragroup debt, which amounts to more than 100 million euros.

According to the company's estimates, the sale of Russian assets will bring "an expected total aggregate loss of 300 million euros". But, Heineken argues, that's better than completely losing control of its assets in Russia.