Anheuser-Busch InBev asked the controlling shareholder in its Ukraine and Russia venture, Efes, to suspend the license to make and sell Budweiser in that country, a response to Russia’s war on Ukraine.
Michel Doukeris, CEO of A-B InBev, said the brewer does “not have a controlling stake at the joint venture and do not consolidate it in our accounts.”
Efes was created by a merger between ABI and Anadolu Efes, a Turkish brewer. It claims 7,000 employees.
In a filing with the Securities & Exchange Commission, ABI said it was “providing critical assistance to our 1,800 employees in Ukraine and their families, including housing and financial support.
In addition to donating to the Red Cross, ABI said it is working in partnership with them, other CPGs and local NGOs to provide food, blankets, medical supplies and 2 million cans of emergency drinking water to Ukraine and surrounding refugee relief areas.