Dutch brewer Heineken has asked regulators in the Russian Federation to approve the sale of its business in Russia.
Further Details If And When Approved
"If and when we have approval, we will share further details about the buyer," the company said this week.
Trading Update
The disclosure was made in a trading update in which the company forecast its operating profit this year will increase by a mid to high single-digit percentage.
Previously Said
Heineken has previously said it plans to exit Russia, taking a €300 million loss.
Heineken Sees Europe Resilience Offseting Asia Slowdown Risk
The above news follows news that Heineken maintained its forecast for 2023 profit growth with the risk of slower economic expansion in the Asia-Pacific region offset by greater resilience among beer drinkers in Europe.
The world's second-largest brewer expects its operating profit this year to increase by a mid- to high- single-digit percentage.
"We see signals of a relatively resilient Europe and risks of slower economic growth in Asia Pacific, thus performance across markets may be different than anticipated," Heineken said.
The Dutch brewer reported a steeper than expected decline in first-quarter beer sales on Wednesday 19 April, with a sharp decline in major markets Nigeria and Vietnam, but price hikes and some consumer shift to more expensive beers meant revenue expanded in line with the market consensus.
The brewer - whose namesake brand is Europe's top-selling beer - said consumer demand in Europe and the Americas was holding up better than expected, but results in the Asia Pacific and the region including Africa were "disappointing".
Read More: Heineken Sees Europe Resilience Offseting Asia Slowdown Risk
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