Budweiser Parent Plans To Sell Interest In Russian JV

Anheuser Busch Inbev SA BUD plans to sell its non-controlling interest in the AB InBev Efes joint venture.
The company is in talks with its partner, Turkish Brewer Anadolu Efes, to acquire the interest.
AB InBev’s request regarding the suspension of the license for the production and sale of Bud in Russia will also be part of a potential transaction.
The company had previously announced it is forfeiting all financial benefits as a non-controlling partner from the joint venture operations.
As a consequence, AB InBev is de-recognizing the investments in AB InBev Efes and will report a $1.1 billion non-cash impairment charge as part of its first-quarter results.
Price Action: BUD shares are trading lower by 1.84% at $60.31 in premarket on the last check Friday.