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Finnish festival ends partnership with Heineken due to company's activities in Russia

This year, Heineken came under fire in the Netherlands for promising to exit the Russian market in March 2022, but instead it launched a range of new products

STOCKHOLM, August 9. /TASS/. The organizers of the Finnish music festival Flow, which is to be held August 11-13 in Helsinki, have decided to end their partnership with the Dutch brewing company Heineken because the company continues to operate in Russia. This is according to a statement published on the official website of the festival.

"We have reassessed the situation and decided to end the partnership and brand cooperation with Heineken. Heineken Silver will be replaced with Hartwall’s other products at the festival," Flow CEO Suvi Kallio said as quoted in the press release.

This year, Heineken came under fire in the Netherlands for promising to exit the Russian market in March 2022, but instead it launched a range of new products. The company stated that it still intends to leave the Russian market, and the launch of the new products was necessary to increase the attractiveness of the business for potential buyers.

In April, the company found a buyer for its business in Russia and is now waiting for the transaction to be approved by the Russian authorities. As of June 30, 2022, the company valued its assets in Russia at 475 million euros, and debt obligations amounted to about 275 million euros.

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