Heineken sells its Russia operations for 1 euro

Heineken has sold its business in Russia for one euro more than a year after it vowed to pull out of the country in response to Russia's invasion of Ukraine. 

The Dutch brewer is taking a €300 million loss, or roughly $325 million, by selling its business to Russian manufacturer Arnest Group, making Heineken one of the latest companies to pull out of Russia since the start of the war in Ukraine in February 2022.

Heineken had faced criticism for the slow pace of its exit, which CEO Dolf van den Brink attributed to the company's efforts to protect its Russian employees during the sale process.