Russian President Vladimir Putin temporarily appointed a trustee to the Russian partnership of Anadolu Efes, one of Türkiye’s leading alcoholic beverage producers, through a presidential decree.
The decree involved handing over 15.8 billion common shares and 92,900 preferred shares of AB InBev Efes BV to an entity called “GK Vmeste.”
This marks a historic first in Russia’s dealings with Turkish companies, as it is the first instance of such a seizure.
AB InBev Efes operated 11 breweries and three malt production facilities across Russia. The joint venture was established in 2018 between Anadolu Efes and Belgian company AB InBev.
Since late 2023, Anadolu Efes has made efforts to acquire its Belgian partner’s shares, but the proposed structure was rejected by a government commission during the summer. Toward the end of 2024, a new agreement was reached between the Turkish and Belgian partners. Under this agreement, Anadolu Efes would take over AB InBev’s shares in Russia, while AB InBev would acquire Anadolu Efes’ shares in Ukraine.
Stocks plummet on exchange market following news
Following Putin’s decision, stocks of Anadolu Efes and its parent company, Anadolu Holding, nosedived on Borsa Istanbul. Anadolu Efes stock closed the day down 9.98% at ₺212.80 ($6.02), while Anadolu Holding ended 9.95% lower at ₺341.75.
In a statement to the Turkish Public Disclosure Platform (KAP), Anadolu Efes reaffirmed that temporary management was appointed to the company in Russia on Dec. 30.
The statement noted that the situation would be thoroughly evaluated with their partner and all necessary steps would be taken.
Anadolu Efes notified that developments on the matter would be disclosed to the public in due course and in accordance with regulations.
