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Heineken has found buyer of Russian business — report

Earlier this year Heineken was criticized in the Netherlands for launching a whole number of new products on the Russian market after promising to leave the country

THE HAGUE, April 19. /TASS/. The Dutch brewer Heineken has found a buyer of its business in Russia, the company said in its quarterly report on Wednesday.

Heineken is currently expecting an approval from the Russian authorities, according to the report.

"We continue to make progress to transfer the ownership of our business in Russia and an application has been submitted for approval to the authorities in the Russian Federation in-line with local regulatory requirements. There is a limit to what we can say before this process is completed. If and when we have approval, we will share further details about the buyer and agreement," the report said.

Earlier this year Heineken was criticized in the Netherlands for launching a whole number of new products on the Russian market after promising to leave the country. The company said that the intention to leave the Russian market remained in force, while the launch of new products was necessary for making business more attractive to potential buyers.